rsthand look at the shifting economic tides in North Dakota’s oil country. As major players like Continental Resources halt drilling operations, Steve sits down with state leaders to discuss what slowing revenues mean for the state's record-breaking equity position and the "rock star" Legacy Fund. The episode also dives into a heated legislative battle over universal school meals, a massive planned business strike in Minnesota, and the upcoming Republican primary showdown between Michelle Tafoya and Royce White.
Key Moments
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Bakken Slowdown: Steve reports from a quiet Watford City, noting a visible decrease in activity following Harold Hamm’s decision to shut down drilling rigs due to disappearing profit margins.
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North Dakota’s "Net Position": Joe Morissette, Director of the Office of Management and Budget, breaks down the state’s 2025 financial report, revealing a 9.5% growth in "net position"—essentially the citizens' equity in their state government.
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The Legacy Fund "Rock Star": Discussion highlights the staggering growth of the Legacy Fund, which rose from approximately $10.8 billion to over $13 billion in a single fiscal year, driven by investment returns and oil tax allocations.
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The School Lunch Debate: Steve critiques proposals for universal free breakfast and lunch in North Dakota, arguing that taxpayer money shouldn't be used to feed children from wealthy families when a "humane society" already covers those in need.
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A Middle-Ground Meal Plan: State Representative Ty Dressler introduces a competing bill that would raise the free-meal eligibility limit to 300% of the federal poverty line (approx. $100,000 income) rather than making it universal for all.
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Addressing the Doctor Shortage: Dr. Bob Mayo of NDSU’s Challey Institute warns that North Dakota faces a deficit of up to 500 doctors by 2040 and suggests the state must fund more rural residency slots to keep medical graduates from moving away.
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Minnesota Business Strike: Steve previews a planned shutdown by thousands of Minnesota business owners protesting ICE activity, noting that for some struggling owners, the symbolic closure could mean a permanent loss of their business.
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Senate Choice—Tafoya vs. White: Steve weighs the strengths and weaknesses of GOP Senate hopefuls Michelle Tafoya and Royce White, specifically addressing how Tafoya's pro-choice stance may play with state delegates.
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Best Thing I Heard All Day: Treasury Secretary Scott Bessent "chooses violence" in Davos, delivering a blistering critique of California Governor Gavin Newsom’s economic record and his association with Alex Soros.