I have read a number of articles regarding “who will/how to” absorb the tens of billions of dollars in additional electricity costs related to the recent Texas deep freeze. I also know that logic suggests a huge amount of profiteering was made at the “other end” of these transactions.
I found it interesting that local officials warned businesses against any price gouging, yet the price of natural gas saw an enormous spike.
I would strongly urge our state officials to institute a “windfall profits tax” on those who made, you guessed it, “windfall profits” during this crisis.
I have seen estimates that it could take the good citizens of Texas 10 years to pay off the costs related to this extraordinary crisis. A tax on a good portion of this excess profiteering could go a long way toward easing that burden.
James McNamara, McAllen
