Smart policies are good, but oil is better

How Texas and North Dakota won the recovery.

If you want to understand how to create hundreds of thousands jobs at once you just need look to Texas and North Dakota. Together, these two states account for a little more than 8 percent of the country’s population — about one in 12 people. But they’re also responsible for 20 percent of net new jobs since the end of the recession. And, crucially, they account for “more than 100 percent of the increase in U.S. [oil] production since 2009,” James Hamilton writes.

 

 

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Is the miraculous North Dakota boom over?

Fracking rig in North Dakota.

Today’s North Dakota, flush in its energy frenzy, has been characterized “the luckiest place on earth” by Chip Brown.  His New York Times Magazine article showed chief executives and miners both giddy about their topographical luck and only slightly nervous that this boom would end as the last ones have ended in a bust.

 

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Why North Dakota May Be the Best State to Live In

North Dakota

North Dakota has a budget surplus.

While many states are confronting severe budget shortfalls and dragging economies, North Dakota has a different sort of problem. It’s stuck deciding how best to deal with a budget surplus. Yes, a surplus. North Dakota’s balance sheet is so strong it recently reduced individual income taxes and property taxes by a combined $400 million, and is debating further cuts.

 

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