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Posts Tagged ‘infrastructure’

Return To Normal?

May 25th, 2021 by Kurt L. Smith

Vaccines are wonderful and it is great to get together with friends and family again. The feeling of hope and sharing good times are wonderful.

Last week we vacationed with the family in the mountains of North Carolina. Beautiful mountains, near the Appalachian Trail and, oh yeah, without any gasoline. Someone at the Colonial Pipeline thought it would be a good idea for a sixty-year-old pipeline to be on the internet. A group of Russian hackers looking to make an easy $5 million dollars agreed.

Before we left North Carolina we were re-routed off Interstate 40 in Memphis because the bridge across the Mississippi River was discovered to have quite a crack. I guess we were just lucky to make it across the bridge just a few days earlier on our way to the gasoline desert of North Carolina.

My February letter led off with the tragedy Texans faced losing electricity and later water service. While the cause was not Russian hackers, it might well have been. At least the Russian hackers apologized for their actions regarding the pipeline. Texans on the other hand, got to see their state legislature in action (yes, inaction).

Our infrastructure sucks. You do not have to be in the infrastructure business (like municipal bonds) to know this. We get to experience it…regularly. This is nothing new.  No one wants to be responsible and yet we are all responsible. We like to think we are immune here in Texas because so much of what we have is new: new highways, new airports, or at least terminals all over the state.  Yes, growth is better than the non-growth I see across the country but, as we experienced in February, we are not immune to infrastructure problems.  We are not even lucky.  Texas is a great place to be if you do not want to be responsible. Companies are moving here in droves as a result.

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