Does anybody think that energy companies would have allowed this to happen if they were not able to profit from this disaster?
Jerry Jones’ natural gas company ‘hits jackpot’ as Texas freeze drives up prices
Comstock Resources Inc. has been able to sell gas from its Haynesville Shale wells in East Texas and northern Louisiana at premium prices since Thursday.
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“This week is like hitting the jackpot with some of these incredible prices,” Burns said. “Frankly, we were able to sell at super premium prices for a material amount of production.”
Gas production has tumbled to a four-year low as a polar blast triggers blackouts across Texas and other central U.S. states, freezes liquids inside of pipes and forces wells to shut. Producers may take until March to fully restore supplies due to equipment damage, according to Charles Nevle, senior director for North American gas at IHS Markit.
At the Henry Hub in Louisiana, the delivery benchmark for futures in New York, spot gas traded at $20 or higher on Wednesday morning, according to two traders. That compares with a settlement of $16.13 on Tuesday and just $3.73 a week ago.
They didn't invest in winterizing those pipes. Now, they profit from that choice. People die, heating costs soar and Jones gloats. Texas governor blames wind power. The Old South plantation political system never died.