February 21, 2021 ☼ texas ☼ power-failure ☼ deregulation
Source: The Washington Post - Link
I grew up in a suburb south of Dallas, and even though my parents were immigrants from West Africa, I was conditioned to believe in Texan exceptionalism. In high school debate, the question of whether the Lone Star State should secede from the union was a yearly issue. I argued absolutely yes. “We are fine on our own! We have our own power grid!”
Well, I was wrong.
This week, wrapped in multiple blankets and layers, I could only laugh at my past faith in Texas’s supposedly mighty grid. A winter storm might have been the precipitating event that left millions of Texans struggling without power in record-low temperatures. But what really has brought my home state to its knees is a chilling mix of unfettered deregulation, partisan gaslighting and leadership failure.
Throw another log on the fire. Deregulation might be good if it is managed well. This obviously was not. No one considered the consequences. People hate surprises. This is why adjustable rate mortgages, cheap health “insurance”, and variable rate utilities suck.