Texas has been in the throes of devastating winter storms for much of the past week, leaving hundreds of thousands of people without power, water or even heat. You’ve seen the viral news and videos. People desperately need help as frozen pipes burst water their homes. Men and women line up in freezing weather to buy gasoline or propane. Fast food workers collapsed from exhaustion after trying to do what they could to feed people.
There is nothing less than a humanitarian crisis in Texas. The cumulative failure of the state’s electricity grid, gas supply lines, and the breakdown of basic government services mean thousands of people are cold, tired and hungry for days.
Still, the resulting human suffering has been a boon to some, such as Dallas Cowboys owner Jerry Jones, who is a majority shareholder in natural gas company Comstock Resources Inc. price of fuel, which means that an already rich man has become much richer. In a conference call with investors on Wednesday, Comstock chairman and chief financial officer Roland Burns bragged about the company’s financial gains.
“This week is like hitting the jackpot with some of these amazing prizes,” said Burns, seemingly oblivious to the fact that the higher prizes were a direct result of people not having adequate access to heat. . “Frankly, we were able to sell very cheaply for a significant amount of production.”
Extreme winter conditions (for Texas) forced other factories to close as demand for electricity and fuel skyrocketed. Jones’ gas company, which has been able to keep operating, has been able to sell at a huge increase, taking advantage of the misery of millions who will likely see higher bills for basic needs.
Heating shouldn’t be a luxury and yet, with millions of people struggling to say hot, a handful, including Chief Jones, are happily rubbing their hands over more money in their pockets.
It’s disgusting, but hey, it’s capitalism.
Either way, think about it the next time there’s a story about Jones or the Cowboys donating to charity. The truth is that all the money Jones gives will always be a small fraction of what he actually has, and the money he has comes from the undue suffering of millions of people.
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