Plain Talk With Rob Port

North Dakota's Legacy Fund, since it was created by the Legislature and approved by voters in 2010, has turned a slice of the state's oil tax revenues into a nearly $8 billion balance. That balance is invested in stocks and bonds across the nation, and the world, including in some ways that, as a moral matter, we shouldn't be happy about. Almost none of it is invested in North Dakota. Rep. Mike Nathe wants to change that. Or, at least, the part where practically none of these North Dakota tax dollars are invested in North Dakota. He has proposed legislation that, if passed, would require that 20 percent of the Legacy Fund's balance (he pins that number at about $1.4 billion) would be earmarked for investment in North Dakota. It would be available as capital not just for companies and start-ups, but also for infrastructure. He talked about the proposal on this episode of Plain Talk. North Dakota has long been plagued by a shortage of capital. It's hard for companies that want to do business in our companies t