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Economics Discuss As Texas Freezes, Jerry Jones Does What He’s Always Done at the Political Forums; Originally Posted by mr wonder true to a point, but it's my understanding that there is some leeway in pricing. ...

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Old 02-22-2021, 11:18 AM
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Default Re: As Texas Freezes, Jerry Jones Does What He’s Always Done

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Originally Posted by mr wonder View Post
true to a point, but it's my understanding that there is some leeway in pricing.
And that the company did wisely create some reserves for the winter. So "new" pricing was not needed just a windfall/tragic opportunity.
Pricing has to reflect anticipated replacement cost for the commodity. The gas company has to try to maintain a constant supply coming down the pipeline. That means they have to purchase at futures prices. They can burn through their reserves then pay spot prices or go dark.

Of course if the gas companies were vertically integrated they would be insulated from market pricing variations. But know nothing politicians and sports writers would condemn that as a monopoly.
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Old 02-22-2021, 11:25 AM
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Default Re: As Texas Freezes, Jerry Jones Does What He’s Always Done

A Sports Illustrated beat writer is trying to inject himself into the world of gas and pricing? These idiots barely know sports, let alone the real world. This is nothing but a blatant attempt to grab a few headlines and stir up resentment towards people that are worth a lot of money.
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Old 02-22-2021, 01:15 PM
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Default Re: As Texas Freezes, Jerry Jones Does What He’s Always Done

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Originally Posted by FrancSevin View Post
Keep talking. it proves your innocence about the facts.

Texas is an exporter of energy. Texas Coal Commission, which is not part of the Texas government, actually sets the volume of oil and gas mined. Thereby controlling the supply of crude and fuels. And Texas can cut the chord to all other states if and when it wants to. Because traditionally, it is normally energy independent. But it didn't. I know because Springfield MO, where I was hunkered down, suffered power loss and had rolling blackouts. Much of the
power that stayed on came out of Texas.

You are right at 13% about the amount of wind mill energy on the grid. Keep in mind several natural gas turbine plants shut down as well. But that deficiency was all it took for the power deficit during the crisis.

Money that could have been spent on expanding proven technology was redirected by political decisions made outside of Texas. Mot one windmill in the world has yet paid for the cost of its erection. And not one has been a reliable source of power when the wind is fickle. The economics were explained at the time. They still are the same. Political choices over common sense just to be green. Politically correct but,,,;Foolish.

And you put the blame on Governor Perry who actually had no choice to do otherwise. To promote and do what was practical and proven. As for who controls the power production in Texas, it isn't the government but private utilities. And the BOD of the Texas Power commission has been called for resignations and and inquiry. So stop blaming the government just because in Texas it is primarily red. It doesn't matter who in in the governor's mansion, the power commission is independent.

The big money, like T Boone Pickens, who could have put up more windmills, didn't do so because it wasn't practical. It still isn't.

Proof is in the pudding dearie. A thousand windmills at over $3 million apiece couldn't produce the energy that five power plants at half that cost could have done. As much sun as Texas receives, the solar panels failed in the blizzard. And they don't work in the dead cold of night when the residents really needed the power.

The last people you would blame are the greenies that created the mess. Colour me surprised.
complete made up bull vomit. you should work for foxnews.


Quote:
More than 4.3 million homes and businesses in Texas were left without power, some for several days. The cause of the power outages was initially blamed on frozen wind turbines by some Republican government officials, including Texas governor Greg Abbott, but frozen natural gas lines and instruments were the main cause.
Viral images of a helicopter de-icing a Texas wind turbine were actually an image from Sweden taken in 2015.
Governor Abbott later acknowledged that every source of power, not just renewable ones, had failed.

Five times more natural gas than wind power had been lost.
When power was cut, it disabled some compressors that push gas through pipelines, knocking out further gas plants due to lack of supply.

During the 2011 Groundhog Day blizzard, Texas had faced similar power outages due to frozen power equipment, after which the Federal Energy Regulatory Commission reported that more winterizing of power infrastructure was necessary.

ERCOT said that some generators since then implemented new winter "best practices," but these were on a voluntary basis and mandatory regulation had not been established.
https://www.texastribune.org/2021/02...grid-failures/
https://www.bloomberg.com/news/artic...o-gas-supplies

https://www.usatoday.com/story/news/...en/6787470002/
https://www.nytimes.com/live/2021/02...m-weather-live
https://abcnews.go.com/Politics/repu...ry?id=75947664
https://time.com/5939633/texas-power...2015%2C%202021.
https://time.com/5940232/millions-without-power-texas/
https://newrepublic.com/article/1613...exas-blackouts
https://www.usatoday.com/story/news/...ts/6784789002/
https://www.nytimes.com/interactive/...on-charts.html
https://www.nytimes.com/2021/02/17/c...formation.html

So it was the DIRECT RESULT of deregulation.
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Old 02-23-2021, 09:29 AM
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Default Re: As Texas Freezes, Jerry Jones Does What He’s Always Done

Gee what a surprise the Democrat media choir all sing the same hymn. It didn’t take a freak storm to reduce California's consumers to sitting in the dark sweating, all it took was hyper regulation by Democrats dictating green energy and sunset. But who could argue against imposing the same regulatory straitjacket on Texas energy production.
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Old 02-23-2021, 11:27 AM
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Default Re: As Texas Freezes, Jerry Jones Does What He’s Always Done

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Originally Posted by saltwn View Post
complete made up bull vomit. you should work for foxnews.



.
Work for FOX????

Naugh. I place too much importance on being honest.

If a person is dishonest, they have sold their soul to the Devil and are thereby worthless. To everybody else. But mostly, worthless to themselves
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Old 02-23-2021, 10:12 PM
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Default Re: As Texas Freezes, Jerry Jones Does What He’s Always Done

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Originally Posted by mr wonder View Post


https://www.si.com/nfl/2021/02/19/je...s-power-crisis

Sports Illustrated story

Michael Rosenberg
Feb 19, 2021

As Texas Freezes, Jerry Jones Does What He’s Always Done
The power outages and gas shortages in Texas provided Jones and his company an opportunity to profit. And he took it.



Jerry Jones is doing what he has always done: trying to cash in. He is damn good at it. He is a billionaire for a lot of reasons: business acumen, luck, fearlessness and the willingness to do things like jack up the price of natural gas at a time when the people of Texas need it the most.

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.

This is business to Jones, as defensible to him as—I’m being hypothetical here, of course—another billionaire claiming that not paying taxes “makes me smart.” Jones does not need the money, but need has nothing to do with this. Making more money for himself is one way he keeps score. (Winning Super Bowls is the other, though he hasn’t done that in almost three decades.)

O.K. then. Let’s keep score.

The citizens of Arlington contributed $325 million to fund Jones’s playhouse, AT&T Stadium. Jones pays the city a paltry $2.5 million per year to operate the stadium. This deal is supposed to be an economic generator for Arlington, and maybe it has been. But an implicit reason for agreements like these is that a team does not just belong to the franchise owner. A team belongs to the citizenry that cheers it on. Right.

Now you see how Jones is treating Texans in their time of need. We can call this a betrayal, but it’s really just an extension of the relationship between Jones and Texans. It is impossible to arrange a fair transaction when one party is in it for love and the other is in it for money. Years ago, when Jones wanted a stadium deal, he enlisted Roger Staubach in the public effort, a clever way to make the vote seem like an act of fan loyalty without explicitly calling it that.

Jones knew what he was doing then, and he surely knows what he is doing now. If all the clothing suddenly disappeared from the state, Jones would start selling Cowboys sweatshirts for $1,000 each.

Remember this story the next time your favorite team asks for a new stadium or your favorite player is accused of being greedy because he wants to test free agency, or even the next time you shell out cash for merchandise.

The Dallas Cowboys are America’s Team in NFL Films’ telling, and Jones has cannily managed to monetize that image without using the actual moniker. He bought the Cowboys not just because he wanted an NFL team, but because he wanted this NFL team, the one with arguably the biggest fan base in American sports. He knew the Cowboys meant something to people. He loves that. He is a master at making money off it.

Jones won three Super Bowls early in his Cowboys tenure and has desperately tried to win a fourth ever since. In that way, his desires seem aligned with those of his fan base, but still: He is doing this for him, not them. He did foot most of the expense of the stadium, but that was not because he wanted to boost the Arlington economy. He wanted the world’s fanciest stadium. In the 11 years since it opened, the Cowboys’ franchise value has gone from $1.6 billion to $5.7 billion, according to Forbes.

That would be enough for most of us. Yet Comstock Resources is selling gas at prices ranging from $15 per thousand cubic feet to $179 per thousand cubic feet, a markup of between 600% and 7500% over pre-crisis levels. The idea that people might desperately need the gas and can’t afford this has probably not even occurred to him. The church of market worship has a narrow definition of sin.

Jones should be embarrassed, but billionaires don’t get embarrassed by what they see as good business deals. They get embarrassed when many people call them out, or when the public shame is so great that the good business deal morphs into a lousy one. Cowboys fans can show Jones how angry they are by cutting down on their financial support of the team. Logic says they should. History says they will not. Jones is betting that he can make money by price-gouging the very people he purports to represent. In that sense, he is a fitting owner of America’s Team.
I just want to point out that this is the guy who never penalized his team members for doing world class bad stuff. drugs, charges of rape, assault on family members, plus he paid the immoral players big salaries w/o blinking an eye. I used to have a saying, "The best thing for Dallas will be when JJ kicks the bucket". But looks like he's rich enough to live into the crypt keeper years, so. yeah he's not gonna be shamed by some tweet or letter to the editor. Jerry Jones gives zero F's about this. He might do a lot of selective charity, but that's probably for tax breaks.
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Old 02-24-2021, 10:26 AM
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Default Re: As Texas Freezes, Jerry Jones Does What He’s Always Done

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I just want to point out that this is the guy who never penalized his team members for doing world class bad stuff. drugs, charges of rape, assault on family members, plus he paid the immoral players big salaries w/o blinking an eye. I used to have a saying, "The best thing for Dallas will be when JJ kicks the bucket". But looks like he's rich enough to live into the crypt keeper years, so. yeah he's not gonna be shamed by some tweet or letter to the editor. Jerry Jones gives zero F's about this. He might do a lot of selective charity, but that's probably for tax breaks.
Are you referring to Joe Biden?

Look, you can blame and slander any devil you wish, That's your style. But the issue is not the gas station attendant or his boss but who controls the Power grid. Jerry jones in not on the BOD.

As I said, the real issue in the Texas Power shortage sits at the feet of the Texas Power Commission Board of directors. They are to blame. They have resigned.
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