This story first appeared at ProPublica and the Texas Tribune. ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.
One must ask: why should the heads of these power companies in Texas keep their jobs? Shouldn’t they resign, in fact? Ditto the boards of directors of these firms. Get rid of the fat cats and start fresh.
Externalities are corporate welfare. That is all.
Subtitle: Enron, the Sequel. The Grifters Strike Back.
Remember, Corporations are People.
Hideously rich people.
Texan republicans seem to be encouraging the state to turn blue.
Perry had the goddamned gall to say that Texas has “a resilient grid”? Unbelievable!
Resilient against librul interference?
In extreme weather events like last week’s freeze, prices per megawatt jumped from an average of around $35 to ERCOT’s maximum of $9,000.
An increase of almost 2-1/2 orders of magnitude! That’s not an incentive program, it’s a failsafe mechanism to protect energy producers from their own catastrophic negligence.
Surely even Texans are about to see the light, and ditch these clueless buffoons. Texas came close to turning blue last year.
Always right around the corner…
Another excellent article from pro publica. These are harder to write than the “GQP leader says something absurd on Twitter” articles, but much more important. I rarely have an intelligent comment to make, but I’m always glad I read them
Translation: “Money Talks. Nothing else matters in Texas.”
Yeah, like "We don’t need no friggin’ insulation and hardening.
—Texas Public Utility Commission
Have to laugh out loud at Texan Repugnicants blaming AOC for wind power pimped by T. Boone Pickens.
The only thing they pad is their bottom line.
Spoken like true right-wing, wealthy fascist elites.
who can never be sent to jail
Reading through this article plus talking with my sister who used to work for ERCOT this explains what happened very well. It does remind me of Enron and “how to make money in the energy production business without being responsible to one’s customers”.
Corporations are people, my friend, until liability looms. Then, suddenly, the people are sheltered because a corporation is not a person. Neat, no?