July 13, 2013
Houston has officially topped New York City as the greatest exporter of goods in the US—exports totaling $110.3 billion. The reasons for the shift should be familiar to anyone who’s been following the economic miracle in Texas. . . .
In 2012, Texas boasted the fastest-growing economy of the 50 states, expanding by 4.8 percent. If Texas were a country, its GDP would be 14th largest in the world. This economic success has many sources, but the energy boom looms largest among them.
America has been blessed with abundant shale resources, and Texas is more blessed than most. But its success cannot be attributed solely to geology—unlike resource-rich states like California, Texas has implemented the right policies to encourage drilling and make the most of its resources. Houston is a great example of the power of brown jobs and brown energy, and an important model for other energy-rich states looking to emulate its success.
But all the journalists on Twitter the other day were mocking Rick Perry as a dumb red-state hick.