BoyNextDoor
I hate liars
- Joined
- Apr 19, 2010
- Posts
- 14,158
AS A SEVERE winter storm swept Texas last week, cutting electricity from millions of residents in freezing temperatures and causing nearly 70 deaths so far, some energy executives saw an upside to the catastrophe.
“Obviously, this week is like hitting the jackpot,” boasted Roland Burns, the chief executive and chief financial officer of Comstock Resources, a shale drilling company that benefited from the sudden demand for natural gas, in a call with investors last Wednesday. The price for gas, said Burns, has been “incredible.”
Marshall McCrea, the co-chief executive of pipeline firm Energy Transfer, told investors last Wednesday that his company has “been able to benefit,” given its ability to transport gas from storage facilities near Houston to power plants across the state. The company, McCrea said, has transported large volumes of gas in Texas and capitalized on “very strong commodity prices.” Energy Transfer, when reached for comment, said that McCrea’s comments “are pretty clear.”
Jackpot = Market Failure
“Obviously, this week is like hitting the jackpot,” boasted Roland Burns, the chief executive and chief financial officer of Comstock Resources, a shale drilling company that benefited from the sudden demand for natural gas, in a call with investors last Wednesday. The price for gas, said Burns, has been “incredible.”
Marshall McCrea, the co-chief executive of pipeline firm Energy Transfer, told investors last Wednesday that his company has “been able to benefit,” given its ability to transport gas from storage facilities near Houston to power plants across the state. The company, McCrea said, has transported large volumes of gas in Texas and capitalized on “very strong commodity prices.” Energy Transfer, when reached for comment, said that McCrea’s comments “are pretty clear.”
Jackpot = Market Failure
