robl
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Post by robl on Feb 21, 2021 10:35:24 GMT -5
"As Texans continue to go days without power or heat, shale-driller Comstock Resources Inc., a publicly traded company of which Jones is the majority stockholder, has, according to NPR, been selling gas at “super-premium prices.” It has been “like hitting the jackpot," Roland Burns, Comstock’s president and CFO, said on a Wednesday earnings call." www.si.com/nfl/2021/02/19/jerry-jones-gas-company-jacks-prices-during-texas-power-crisisWho pays for Jerry Jones big payday, Texans do! |
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Post by GameTime on Feb 21, 2021 10:45:53 GMT -5
how do utilities increase in price like that? I am ignorant to commodities etc but that seems really messed up
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3days
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Post by 3days on Feb 21, 2021 12:05:44 GMT -5
I heard that it will be investigated, it is clearly price gouging during a crisis.
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Post by ThatGuyRich on Feb 21, 2021 12:07:35 GMT -5
Of course this is price gauging. They are bringing energy in from other states. Texas with all their oil and natural gas has to import energy from other states. The Texas government has to step in and help these people. How can people afford this ? It's not their fault the system froze. People froze to death. Water pipes exploded and now they have to boil water to use it if their lucky enough to have water.
These windmills were installed so eventually the fossil fuel industry can be replaced. Windmills now are being thawed out are you ready for this by "oiling them down" for the love of God.
And Roland Burns has the balls to say out loud "it's like hitting the jackpot". Business and profits soars while people need help immediately' What about the dead for the failure of the energy companies. Who pays for that ?
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Post by bluebuddha on Feb 21, 2021 12:57:50 GMT -5
Of course this is price gauging. They are bringing energy in from other states. Texas with all their oil and natural gas has to import energy from other states. The Texas government has to step in and help these people. How can people afford this ? It's not their fault the system froze. People froze to death. Water pipes exploded and now they have to boil water to use it if their lucky enough to have water. These windmills were installed so eventually the fossil fuel industry can be replaced. Windmills now are being thawed out are you ready for this by "oiling them down" for the love of God. And Roland Burns has the balls to say out loud "it's like hitting the jackpot". Business and profits soars while people need help immediately' What about the dead for the failure of the energy companies. Who pays for that ? The exact thing happened in 2011. Same thing happened instruments froze, water lines froze , natural gas supply lines froze.Everyone supposedly learned thier lesson and promised to make sure it didn't happen again. Reccomendations were made but not enforced. It will happen again because private companies will not spend money to make thier plants more reliable if they aren't forced too or if they can't profit off of it. |
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Post by Sarcasman on Feb 21, 2021 14:02:34 GMT -5
how do utilities increase in price like that? I am ignorant to commodities etc but that seems really messed up Complete lack of common sense consumer regulation. |
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te88
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Post by te88 on Feb 21, 2021 18:04:12 GMT -5
what is happening in Texas is a joke.
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Post by GameTime on Feb 21, 2021 19:15:50 GMT -5
how do utilities increase in price like that? I am ignorant to commodities etc but that seems really messed up Complete lack of common sense consumer regulation. without knowing much about I wonder what is the good side. has to be some trade off that makes some sort of sense |
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Post by Sarcasman on Feb 21, 2021 21:50:57 GMT -5
Complete lack of common sense consumer regulation. without knowing much about I wonder what is the good side. has to be some trade off that makes some sort of sense I do not know but I gotta figure it's like any other market risk be it interest rates, currency fluctuation etc.. It's cheap when things are good and expensive AF when not. I'm guessing there are plenty of options available where you pay a largely flat rate which is higher than the cheapest rate but with an upside cap. |
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Post by GameTime on Feb 22, 2021 8:08:13 GMT -5
without knowing much about I wonder what is the good side. has to be some trade off that makes some sort of sense I do not know but I gotta figure it's like any other market risk be it interest rates, currency fluctuation etc.. It's cheap when things are good and expensive AF when not. I'm guessing there are plenty of options available where you pay a largely flat rate which is higher than the cheapest rate but with an upside cap. ****ing dumb..... Maybe my PSEG and bills can be high at times in NJ but overall our utilities are outrageous. I spend more on food each month than we do on gas and electric for our house. News headlines were blaming the wind turbines. Actually there was more natural gas interruption than anything else because of frozen diaphragm type valves. They were ill prepared for the possible cold weather that can happen down there. Its as simple as that. |
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robl
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Post by robl on Feb 24, 2021 18:27:50 GMT -5
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Post by Delicreep on Feb 24, 2021 20:58:58 GMT -5
without knowing much about I wonder what is the good side. has to be some trade off that makes some sort of sense I do not know but I gotta figure it's like any other market risk be it interest rates, currency fluctuation etc.. It's cheap when things are good and expensive AF when not. I'm guessing there are plenty of options available where you pay a largely flat rate which is higher than the cheapest rate but with an upside cap. This is going to get interesting. Texan #1 opted to pay a fixed rate, higher than the standard market rate. He has paid that higher rate for years. He is not subject to demand pricing and did not see his rate skyrocket. Texan #2 opted to pay market rate, lower than the fixed rate. He has paid the lower rate for years. Now he's getting crushed. How is it fair to Texan #1 to make those increases vanish for Texan #2...who saved money for years and years while he didn't? Isn't the argument that they bet on black for years and won, they can't cry foul when it comes up red. Interestingly, people have gotten understanding letters from the utility company, telling they could come up with a payment plan for it! |
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Post by Sarcasman on Feb 25, 2021 0:57:09 GMT -5
I do not know but I gotta figure it's like any other market risk be it interest rates, currency fluctuation etc.. It's cheap when things are good and expensive AF when not. I'm guessing there are plenty of options available where you pay a largely flat rate which is higher than the cheapest rate but with an upside cap. This is going to get interesting. Texan #1 opted to pay a fixed rate, higher than the standard market rate. He has paid that higher rate for years. He is not subject to demand pricing and did not see his rate skyrocket. Texan #2 opted to pay market rate, lower than the fixed rate. He has paid the lower rate for years. Now he's getting crushed. How is it fair to Texan #1 to make those increases vanish for Texan #2...who saved money for years and years while he didn't? Isn't the argument that they bet on black for years and won, they can't cry foul when it comes up red. Interestingly, people have gotten understanding letters from the utility company, telling they could come up with a payment plan for it! It is interesting. To me it's like the student loan forgiveness idea. Sure, great who doesn't want that? But what about all the people who scrimped and saved to send their kids to college and didn't use student loans? Or did but paid them off? What do they get? Sarcasman, Texan #1 |
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Post by GameTime on Feb 25, 2021 7:43:17 GMT -5
I would never take a utility plan that is at the whim of the market or severe weather issues.
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Post by bluebuddha on Feb 25, 2021 8:11:22 GMT -5
I do not know but I gotta figure it's like any other market risk be it interest rates, currency fluctuation etc.. It's cheap when things are good and expensive AF when not. I'm guessing there are plenty of options available where you pay a largely flat rate which is higher than the cheapest rate but with an upside cap. This is going to get interesting. Texan #1 opted to pay a fixed rate, higher than the standard market rate. He has paid that higher rate for years. He is not subject to demand pricing and did not see his rate skyrocket. Texan #2 opted to pay market rate, lower than the fixed rate. He has paid the lower rate for years. Now he's getting crushed. How is it fair to Texan #1 to make those increases vanish for Texan #2...who saved money for years and years while he didn't? Isn't the argument that they bet on black for years and won, they can't cry foul when it comes up red. Interestingly, people have gotten understanding letters from the utility company, telling they could come up with a payment plan for it! I agree with this. This same thing happened already last summer. People who were on a real-time pricing plan complained then also they knew the risk.They just never planned spot prices would balloon like they did. I don't feel bad for these guys. I also think ERCOT and PUCT shouldn't allow these type of plans for regular people. It is really meant for companies who can shutdown operations if the economics makes sense. Which in turn helps out the grid during high demand scenarios. |
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