Thomas Ryan Allison/Bloomberg via Getty Images
The blackouts that gripped parts of Texas for days as temperatures dipped to record lows last month were stunning for a state that prides itself on its diverse and abundant energy supplies. Texas is the country’s largest oil producer, largest lignite coal producer, largest natural gas producer, and largest wind energy producer.
Yet despite its bountiful resources, every electricity source natural gas, coal, nuclear, wind, solar fell short just as Texans needed to warm up the most.
Now that Texas has thawed out after an icy freeze left more than 4 million people in the cold and dark, heads are rolling.
Texas Investigating Natural Gas Pricing During February Winter Storm
The Texas Attorney General’s (AG) Office is expanding its investigation into the massive price spikes that occurred in the natural gas and power markets during the historic winter freeze last month, with the IntercontinentalExchange (ICE) ordered to turn over documents on pricing for the unprecedented week.
“These massive price increases impacted businesses and consumers alike and will have long-term effects on Texas,” said AG Ken Paxton. “Hardworking Texans who pulled together to get their communities through this disaster deserve transparency and justice.”
The civil investigative demand (CID) to ICE requires the exchange to provide documents that sufficiently identify the sellers and purchasers in all relevant trades during the period spanning from Feb. 8 through the delivery date of the CID.
Josh Olszewski cooks eggs over a grill on Feb. 18 after his Austin apartment lost power during a severe winter storm that hit the state. How those politicians handle the fallout from the winter storm could figure into the 2022 elections, which are, for them, not far away. Credit: Miguel Gutierrez Jr./The Texas Tribune
Editor s note: If you d like an email notice whenever we publish Ross Ramsey s column, click here.
If you would like to listen to the column, just click on the play button below.
Are we going to pay for last month’s blackouts as ratepayers or as taxpayers?