In 2016, the United States is in a sustained economic Depression (economics). Industrial disasters, resource shortages, and gasoline prices at $37 per gallon have made railroads the primary mode of transportation, but even they are in disrepair. After a major accident on the Rio Norte line of the Taggart Transcontinental railroad, CEO James Taggart (Atlas Shrugged) shirks responsibility. His sister Dagny Taggart, Vice-President in Charge of Operations, defies him by replacing the aging track with new rails made of Rearden Metal, which is claimed to be lighter yet stronger than steel. Dagny meets with its inventor, Hank Rearden, and they negotiate a deal they both admit serves their respective self-interests.