Texans are facing a world of hardship now that their deregulated power sector was knocked out by a winter storm. They have been left to fend for themselves and pick up the pieces.
Ken Estey, a professor at Brooklyn College discussed the current situation in Texas, the related class issues, cost of repairs and what is being done to help Texans recover and more on America’s Work Force Union Podcast.
Estey said the Texas power outage has shaped into a learning experience for other states, who may be considering deregulation of their power grid. It was this very deregulation that has led to price gouging, massive power provider profit and more.
He said wealthy Texans will be just fine, as they can afford the massively inflated power bills. Lower income individuals and families are having to sell assets and empty bank accounts in order to afford the bills.
Estey said he does not blame wealthy Texans for the outages and being able to afford the bills, but he lamented their path. He said many wealthy Americans only become so through connections, whether it be family or through experience. He added that the hard worker gets passed up for promotions or raises.
Cost of repair
Another result of the winter storm is extensive property damage. Since Texas does not normally face sustained cold temperatures, many insulation and mechanical protection measures are discarded.
Some community groups and labor unions have offered their help by donating material and labor throughout the state. Despite this help, Texans are expected to pick up the pieces themselves.