What are republicans saying about this? What is their defense?Texas is showing the country how not to run a power grid..Texas power cooperative files for bankruptcy, citing $1.8 billion grid debt
Futures markets, because of their low margin and difficult to predict volatility, are inherently very risky.Their biggest problem stems from playing the futures and when the futures skyrocketed the companies fell short of cash and lost out.
You.... Think they should have got a bail out? I'm perfectly fine with them failing personally now that the danger is over.Texas is showing the country how not to run a power grid..Texas power cooperative files for bankruptcy, citing $1.8 billion grid debt
That's ok, they can use all the money they saved by not winterising the systems to pay for it.It was below freezing along the Rio Grande river for more than a week. There are only about 700 snow plow trucks in the state of Texas. Nobody could have been prepared for record cold for almost a month. The windmills screeched to a stop and it is likely to cost billions to get them started again.