Texas electric firm files for bankruptcy citing $1.8B in claims

That's just part of the risk. We're now talking about the bill that is still on the table. If the "investors" were fully responsible for their "investments" they would not have worthless shares, but they would have to pay up for what the company still owes. That their risk stops at "shares being worthless" is exactly what I mean by them being shielded.

I learned the energy firm was a coop: they have no shareholders.

But the discussion is still interesting, well at least to me :)

Have you seen the amount of subsidies that exist for Ag? It's Market based in name only, futures contracts for pork bellies or bushels of wheat is so far removed from the day to day of farming that they might as well be pixie dust to a horticulturalist or a rancher, seldom does that morass of speculation enter into the equation of how and what to bring to Market.

To this day I will never understand what it is they are trying to establish other than a convoluted and hypothetical settlement prices for something that most countries deal with on the international level for international commerce not domestic consumption.

I did horticulture with some livestock during my apprenticeship and neither I nor the people I studied under ever made an effort to watch the FTSE when we began a growing season, what mattered more was following food trends like cultivating kale, brussels sprouts, kohlrabi, cauliflower etc... to meet the CSAs or that would command a price premium at the farmer's markets in a B2C business model.

> I think the issues around power utilities are more to do with a lack of competition, and legislation that creates perverse incentives.

Agreed, Texas may tout a deregulated energy market but I wonder when it is all tallied for how many people are actually allowed to offer their energy surplus, because unless Cletus from San Antonio with his 45kW array can tie into the system and sell his energy to interested parties I doubt you can call it a free market, let alone deregulated when only a few vetted and selected participants are allowed to do so.

I think this underscores the need to have your own power source, and I can tell you these storms are not uncommon in Texas: I was there this time last year making my way down to Boca Chica for my SpaceX interview and everything was frozen until about San Antonio, and Texans like Californians, suck at driving in anything but pristine weather.

I drove in from Colorado and snow and ice are typical that time of the year so my car was already weather capable (all seasons, de-icer, good windshield wipers etc...) since November and I had no problem driving in inclines with a manual transmission in completely frozen roads where all the locals had summer compounds on there massive SUVs and their lifted pickups and rolled over or crashed on the side of the road.

I was let go when the local cops realized I could drive in the ice/snow and they saw my Colorado plates.

I foresee this to be the new norm now in Texas now, 2 years in a row is not an isolated incident, it's a trend. And I'm sure I can already see Tesla making moves to bring Buffalo back online to supply Texans with residential solar alongside the Giga in Austin as people were posting on Social Media about sleeping in their Tesla in camp mode to stay warm.

And also I want to say that for all this tough talk about Texas being capable burly people, it's sad to realize that they can be out done by a Southern Californian from the coast with no camping experience and only several years of living in Germany, Switzerland and Colorado. I was embarrassed to see how incapable these guys were proving themselves to be under such a situation and made me realize that the adage of: all hat, no cattle apply to these supposed 'rugged people' for 2 years in a row.

If you can't start a fire in your environment to keep you or family alive you have no business of looking down on anyone and no amount of big talk and posing with guns is going to change that fact that you'd be the first to die if things got really bad.

I lived in the base of Bernese Alps in a cabin well over 300 years old with no running water, electricity or insulation for 2 seasons (Winter and Spring) at ~7k feet elevation where on the warmest days it barely went above freezing most days.

I managed to keep myself alive and take care of 40 grazing cows just fine--the cabin was attached to a barn. The hardest part for was manually pumping the water from the well in the morning and at night until it got warm enough to use the pipes again. And the smell, I can still smell them in my dreams to this day.