Texas

walkingman

(7,655 posts) Mon Aug 21, 2023, 12:00 PM Aug 2023

Did Texans freeze because of greed?

https://www.houstonchronicle.com/opinion/editorials/article/winter-storm-uri-gas-blackout-lawsuit-18303252.php

Want to make billions of dollars in one week? Here’s how it’s done.

First, start a natural gas pipeline company in Texas. And make sure it’s in Texas, the only state in the nation that lets you own the gas that moves through your network, seize people’s land to build pipelines wherever you want and create local monopolies so you can bully well owners to sell for less and force customers to buy for more.

Then, wait for an act of God. A vicious winter storm will do. A few days before the storm hits, go ahead and cut off some of the gas flows in your pipelines. In fact, move some of it into storage to make it appear to your clients — electricity generators and utility companies that deliver power to people’s homes — as if supply is running low. Heck, you could even export some of it to Mexico real quick. Then, once the storm hits, you throw up your hands and cry “unforeseeable circumstance!” so you can legally suspend your pricing agreements with clients and sell your supposedly dwindling supply of gas at an astronomically inflated price.

If this scheme is successful, you’ll make out like bandits — or maybe like Enron execs before the fall. In nine days, as people huddle for warmth and freeze to death across Texas, you’ll rake in, say, $11 billion.

Good money, if you can get it. Texas lawmakers and regulators certainly won’t stand in your way. Corruption is a lucrative enterprise — for you, and for them. See their campaign finance reports.

6 replies

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Highlight:

Did Texans freeze because of greed? (Original Post) walkingman Aug 2023 OP

Did Texans freeze because of greed? Think. Again. Aug 2023 #1

In a word? You betcha. marble falls Aug 2023 #2

And then . . . AndyS Aug 2023 #3

I still feel bad for the little boy who died XanaDUer2 Aug 2023 #4

Even this last week with the unrelenting heat dome of 100+ days the solar generation walkingman Aug 2023 #5

Thanks walkingman white cloud Aug 2023 #6

Think. Again.

(8,363 posts)

1. Did Texans freeze because of greed?

Reply to walkingman (Original post)

Mon Aug 21, 2023, 12:05 PM

Aug 2023

Yes.

marble falls

(57,172 posts)

2. In a word? You betcha.

Reply to walkingman (Original post)

Mon Aug 21, 2023, 12:09 PM

Aug 2023

AndyS

(14,559 posts)

3. And then . . .

Reply to walkingman (Original post)

Mon Aug 21, 2023, 12:20 PM

Aug 2023

When the calls come to "fix" the grid instead of forcing the suppliers to shoulder the cost of maintenance subsidize it with bond money paid for with taxpayer dollars

XanaDUer2

(10,726 posts)

4. I still feel bad for the little boy who died

Reply to walkingman (Original post)

Mon Aug 21, 2023, 01:09 PM

Aug 2023

Yes, they killed a kid.

walkingman

(7,655 posts)

5. Even this last week with the unrelenting heat dome of 100+ days the solar generation

Reply to walkingman (Original post)

Mon Aug 21, 2023, 01:20 PM

Aug 2023

is providing about 40% of our power in Texas. However, for the last few days ERCOT has asked people to limit usage from 7PM - 10PM due to "unexpected loss of thermal generation" which translates to energy created by using steam power created by burning oil, liquid natural gas (LNG), coal, and other substances to rotate generators and create electricity.

So as we lose solar power at night we need to have more generation capability. As usual ERCOT is doing nothing even as we are converting to EVs and installing charging stations statewide. Add to that the "bidness friendly" attraction to bring in more people, and jobs which will require more energy and that is not even considering the water issues.

As usual GOP controlled State government will wait until a crisis and them begin pointing fingers.

white cloud

(2,567 posts)

6. Thanks walkingman

Reply to walkingman (Original post)

Tue Aug 22, 2023, 05:23 PM

Aug 2023

I would be very much interested in reading the rest of article below.
Tomlinson: How greed, not cold, may have contributed to hundreds deaths during 2021 blackouts
Story photo for Tomlinson: How greed, not cold, may have contributed to hundreds deaths during 2021 blackouts

Corporate greed or an act of God?

Multiple lawsuits and state governments are investigating whether natural gas pipeline companies mistakenly triggered blackouts that killed hundreds of Texans while manipulating prices. In this four-part series, columnist Chris Tomlinson examines the allegations and opines on the politics of Texas’ pipeline regulations and how they impact everyday people.

Read the rest of the series here:

Part II: Lawsuit: Texas pipeline operators triggered deadly blackouts while chasing profits
Part III: Rival companies, state AGs accuse Texas pipeline operators of fraud over prices during Uri
Part IV: Why Texas regulators refuse to investigate role pipelines played in 2021 blackouts

Y tube has some good stories on what happened to cause grid failure. This does a good job of explaing it.:

&t=14s

https://practical.engineering/blog/2021/3/22/what-really-happened-during-the-texas-power-grid-outage

TIA

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