Mar 1, 2021
While millions of people in Texas lost heat and electricity during the winter storm, others who didn’t had to face the devastating attack capitalists launched to make them pay for it.
Some people in Texas were getting bills for $5,000, $6,000 and $7,000—for 5 days’ worth of electricity! One retired veteran living on Social Security had his entire life savings wiped out after being charged $16,752.
These bills were not mistakes or computer glitches. They were the legal, correct prices. Some people in Texas have variable rate plans for their gas and electricity. The utility companies are allowed to raise their charges as much as 90 times higher during periods of peak demand. And, of course, the energy companies, like Comstock Resources, happily took full advantage.
Comstock Resources is majority-owned by Jerry Jones, the billionaire owner of the Dallas Cowboys. The president of Comstock Resources said “this week is like hitting the jackpot with some of these incredible prices. Frankly, we were able to sell at super premium prices.”
Because people had to have electricity to stay warm and to stay alive, these companies were allowed to wipe out people’s entire life savings. This is how the capitalist system functions. That’s why it is a system that needs to be gotten rid of.