The Texas catastrophe shows how capitalism is destroying the planet The economic misery imposed on Texans demonstrates how neoliberalism has created a rigged market and a client state. In Texas this month, nature struck capitalism with such force that it created a modern parable: the parable of the people who did not want a government. The Texan energy system was designed to be self-sufficient in order to avoid US government regulation. By avoiding regulation, the state ducked any obligation to prepare the grid for extreme winter temperatures, any obligation for suppliers to actually supply electricity, and any cap on pricing when demand exceeds supply.
LET S REMINISCE: The Blizzard of 2011
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Texas Power Retailer That Charged Clients Thousands During Freeze Hit With $1 Billion Lawsuit
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‘We were trapped’: Texans facing $10,000-plus electricity bills are desperate for relief
Haley Samsel, Fort Worth Star-Telegram, (TNS)
FORT WORTH, Texas The offer seemed almost too good to be true: Sign up for a low Costco-like membership fee, pay market prices for electricity and potentially save big on utility bills. That’s what drove Roland Whitaker, a Decatur rancher and oil worker, to enroll with electricity provider Griddy after hearing an advertisement on radio station WBAP.
For Whitaker, who cares for about 175 head of cattle along with horses and goats, the savings were significant: at least a few thousand dollars per year. He didn’t quite understand how it all worked, but his family was thrilled to have the extra money to invest in the ranch.
The Lone Star s scars - Texas s big freeze may not bring the reforms it showed are needed | United States
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