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Gas Sellers Reaped $11 Billion Windfall During Texas Freeze Source: By Kevin Crowley, Bloomberg • Posted: Sunday, July 11, 2021
The official autopsy of the great Texas winter blackout of February 2021 quickly established a clear timeline of events: Electric utilities cut off power to customers and distributors as well as natural gas producers, which in turn triggered a negative feedback loop that sunk the state deeper and deeper into frigid darkness.
It’s now becoming clear that while millions of Texans endured days of power cuts, the state’s gas producers contributed to fuel shortages, allowing pipelines and traders to profit handsomely off them.
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Gas Sellers Reaped $11 Billion Windfall During Texas Freeze
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