Can You Believe This Is Happening in America?

In Economy On
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. . .

“After a heavy snowstorm in February 2011 caused statewide rolling blackouts and left millions of Texans in the dark,” The Times reported Sunday, “federal authorities warned the state that its power infrastructure had inadequate ‘winterization’ protection. But 10 years later, pipelines remained inadequately insulated” and the heaters and de-icing equipment “that might have kept instruments from freezing were never installed” — because they would have added costs.

As a result, it wasn’t just Texas wind turbines that froze — but also gas plants, oil rigs and coal piles, and even one of Texas’ nuclear reactors had to shut down because the frigid temperatures caused a disruption in a water pump to the reactor.

That was a result of Abbott’s Green Old Deal — prioritize the short-term profits of the oil, gas and coal industries, which provide him political campaign contributions; deny climate change; and dare Mother Nature to prove you wrong, which she did. And now Texas needs federal emergency funds. That is what we capitalists call “privatizing the gains and socializing the losses.” I don’t know what they call it in Texas.

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