Kowani wrote:In Texas, the heads of the fossil fuel companies are celebrating their profits from the cold snap.“Obviously, this week is like hitting the jackpot,” boasted Roland Burns, the chief executive of Comstock Resources, a shale drilling company that benefited from the sudden demand for natural gas, in a call with investors last Wednesday. The price for gas, said Burns, has been “incredible.”
Marshall McCrea, the co-chief executive of pipeline firm Energy Transfer, told investors last Wednesday that his company has “been able to benefit,” given its ability to transport gas from storage facilities near Houston to power plants across the state. The company, McCrea said, has transported large volumes of gas in Texas and capitalized on “very strong commodity prices.” The price of natural gas, which skyrocketed as power plants and industrial consumers scrambled to secure additional supply, benefited other energy interests. Macquarie Group, an investment bank that is the second-biggest physical gas supplier in the U.S., reported a windfall of $210 million from the swing in gas and electricity prices. The company also owns Griddy, a residential energy utility that has billed customers as much as $16,752 and $8,000 in recent days.
There was another “upside” to the Texas storm, McCrea noted during the call. “Just over the last four or five days,” he added, “the number one thing that everybody is recognizing, I’ve already said, and we all know on this call, how important fossil fuels are for this country, in this world.”
Blood-sucking parasites all of them.
This is exactly why need to regulate the fuck out of the fossil fuel industry.
