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Hi, hope you’ve had a good first full week of the year. There’s been a lot of business and economic news already in this short year, starting with the Trump administration’s brazen capture of the sitting president of Venezuela, Nicolás Maduro, and the pending takeover of that country’s oil reserves.

We’ll put that story in the broader context of the global oil industry and American gas prices in today’s newsletter. To do that, I’m going to hand this issue over to my colleague Elizabeth Trovall . Elizabeth is a lifelong Texan who covers energy and immigration for us in Houston, where there’s a big economic angle to everything — including the barbecue line. — Tony Wagner, newsletter editor
An animated gif shows barbacue pitmaster Wayne Mueller saying
Click the image to watch a video version of this story on Instagram.
Brisket prices smoke Texas pitmasters
Passion for Texas barbecue is at odds with small cattle herd sizes, pushing up brisket prices.

It’s still dark out when pitmaster Rusty Rohan lays his briskets on the smoker at Charlie Ro’s BBQ at 5:40 in the morning. The briskets will cook there for 12 hours, as heat from the post oak wood fire slowly breaks down and softens the notoriously tough cut of meat.

It’s a time and labor intensive process, so Rohan has to plan carefully. It’s a guessing game how much brisket to smoke for the next day at his small set up in Taylor, Texas — a town with a population of 18,000.

“I can't just throw another one on like [you] throw another hamburger on the grill,” he said.

The low-slung, grey, takeout place with picnic tables out front is about 40 miles northeast of Austin. Rohan got into the barbecue business in 2021 after leaving his job as a high school football coach. Since then, he said smoking brisket has gotten a lot pricier.

“When I decided to get out of coaching and get in this, you could buy a 15 pound brisket for $30 and I'm paying $110, $115, a brisket now. It's gone up quite a bit just over the few years,” he said.

If he errs on the cautious side, and makes too little brisket, it can cost him customers.

“I'll have people walk in. If I'm sold out of brisket, they just walk right back out,” he said.

But brisket prices being what they are, whether he makes money off the brisket hinges on how much he’s able to get out the door.

“Just all depends on if I get rid of the brisket. I sell it all, yes, I don't… no,” he said.

Texas A&M University economist David Anderson said brisket prices have become a particular sticking point for pitmasters as the number of briskets in the market is capped by herd size.

“We have the smallest beef cow herd in the U.S. since 1961 so we're producing fewer animals and so that means we have fewer briskets,” he said. “Every animal has two — a left side and a right side. And so as cattle numbers go down, we're producing fewer briskets.”

The price pinch has also hit Randy Harley, a repeat customer at Charlie Ro’s BBQ and brisket aficionado.

“Brisket, back in the day, was a scrap cutter meat — nobody wanted it. Nowadays it's a commodity that it's way overrated and overpriced because it's still the same cut of meat,” Harley said.

He attributes the spike in prices to the successful marketing and mastery of smoking brisket.

“I remember, you used to go get a chopped beef sandwich for $4.95 and a bag of chips and a coke, and you were good to go. Now you’re looking at the better part of 20 bucks. And the pay scale has not went up high enough to match to the mark up of brisket,” he said. “That's the part I don't like.”

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Stories for the weekend

Venezuela and oil

  • The U.S. produces more oil than anyone else in the world, so why should it care so much about Venezuelan crude? Gulf Coast refineries were made especially to process heavy Venezuelan crude, so there’s short-term upside for these regional refiners. 

  • Wall Street was relatively unfazed by the dramatic Maduro raid, though Canadian oil stocks did take a hit. Canadian crude competes with Venezuelan oil because both are heavy and well-suited for U.S. refineries. 

  • While the Maduro removal has geopolitical and economic implications, let’s not lose sight of who has the most at stake: the Venezuelan people. Millions of Venezuelans have fled the country over the last several years for economic and political reasons, many building new lives and taking hard-to-fill jobs in cities like Houston and Miami.

  • U.S. producers, like those in the shale-rich Permian Basin in West Texas and New Mexico, are facing low oil prices, which should shave off production in 2026. While that’s bad for oil companies, Americans can expect lower prices at the pump this year – barring major geopolitical conflict or climate disasters. 

Other stories out of Texas

  • Did you spend the holidays binging “Landman”? You aren’t alone. A new college course is factchecking the show’s depiction of the Texas oil industry.

  • We recommend the series "Blood Work" by Texas Public Radio, which asks why Texas leads the nation in blood plasma donations. 

  • In the Texas Panhandle, an entrepreneur is getting into the electricity biz to pressure Xcel Energy to make wildfire-preventing upgrades
Travel in Tuscany with David Brancaccio!
Step into the world of the Medici, the formidable banking family whose influence helped transform Florence into the heart of the Renaissance. This vibrant and culturally rich adventure is for smart, fun and economically curious Marketplace fans, like you!
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Woman of various ages sit in a classroom.
Jorge Salgado/Texas Standard
A program backed by the Mexican government is filling in education gaps in the U.S.
The Plazas Comunitarias program offers school opportunities for Spanish-speaking adults. Texas Standard’s Sarah Asch reports.

On Saturday mornings in El Paso, Texas, during the soccer season, you can often find Segundo Barrio Futbol Club’s under-14 team playing a game not far from the U.S.- Mexico border. But soccer is not all this club has to offer, according to founder Simon Chandler.

“With the football club, you know obviously, you get to know the kids, you get to know the siblings, you get to know the families,” he said. “It kind of just seemed natural to start working with the families and seeing how we can support the families.”

By supporting the families, he means offering adults education classes. The club does this as part of the Plazas Comunitarias program, which is run by two Mexican government agencies.

“Plazas Comunitarias” roughly translates to “community gathering spaces.” The program represents an ongoing effort to offer educational opportunities to Mexican immigrants in the U.S. Mexican immigrants account for nearly 5% of the U.S. workforce and some 11 million live in this country, but only half have a high school diploma or equivalent.
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The

“This Is Uncomfortable,” Marketplace’s podcast about life and how money messes with it, is back next week! But we’re not just back for a new season, we’re back every week, for good. 

Host Reema Khrais is still bringing you the intimate stories you’ve come to expect, but also new conversations with all sorts of people: behavioral economists, therapists, and big thinkers who’ll help us make sense of how our culture and economy are shaping our relationship with money, and how we see ourselves.

HEAR THE TRAILER AND SUBSCRIBE
 
ICYMI: Your picks
Here are the stories readers clicked on the most in our Daily Wrap newsletter this week. Sign upto get the latest news and numbers in your inbox every weekday evening.
  • How one Altadena block is rebuilding, a year after a devastating wildfire (Marketplace on Instagram)

  • IRS eliminates Direct File. How can I file my taxes for free now? (Yahoo Finance)

  • Worker confidence is sliding, despite added jobs (Marketplace)

  • The best (and weirdest) tech we found at CES 2026 (The Washington Post, gift link)

  • Gmail debuts a personalized AI Inbox, AI Overviews in search, and more (TechCrunch)
 
SONG OF THE WEEK
“Texas Cookin’” by Guy Clark
The cover art for Guy Clark's album
Listen to "Texas Cookin’" on Spotify | Apple Music | YouTube

Brisket may be one of the stars of the Texas cooking — it’s been exported as far as Chile and China — but there’s plenty to sing about when it comes to the Lone Star diet.

West Texas singer Guy Clark mentions Texas staples like pan dulce, chicken fried steak, ranch style beans and alligator in this classic country tune. Many of these local delicacies are more expensive than ever on top of higher labor costs, and restauranteurs are sounding the alarm. Do you have a favorite Texas dish – and how much would you be willing to pay for it? 
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