Over the last week, Texas has dealt with a winter storm that has produced record-low temperatures. The weather has led to million in the state struggling to get through the historic crisis. Through this disastrous situation, longtime Dallas Cowboys owner Jerry Jones is finding a way to make a profit.
Texas hit with deadly winter storm
The last several days have seen Texas residents struggle to deal with record-low cold weather.
The temperature across the state has dropped to below freezing point hitting single digits in many areas. Since early last week, the weather has remained in a cold pattern, with many Texas cities experiencing snow for the first time in decades.
According to Power Outage, just over 500,000 customers in the state remain without power as of Thursday morning. Before that, the number pushed north of 4.5 million experiencing lengthy electric outages.
The frigid weather has led to many residents experiencing their water pipes burst, leading to internal flooding of their homes. As of Wednesday night, there were seven million residences having water issues with either boil notices or no access to water at all.
Meanwhile, the lack of electricity has put many at risk of hypothermia, along with dealing with contaminated water as well as food and medicine supply issues.
According to The Weather Channel, at least 77 people have been treated for hypothermia in northern Texas. Reports suggest that at least 38 deaths have been caused by the winter storms and frigid weather conditions.
There have also been several instances of deaths from carbon caused by monoxide poisoning due to people using their stoves to stay warm. Among those surfaced a report that a woman and her daughter died from carbon monoxide poisoning while attempting to keep warm in their car.
Throughout this state-wide crisis, Dallas Cowboys team owner Jerry Jones is managing to make significant profit.
Jerry Jones makes huge profits while many Texans suffer in historic and deadly winter storm
As Texas residents work through the frightening and deadly winter storm, Jerry Jones continues to make his pockets deeper.
Comstock Resources Inc, a Frisco-based natural gas producer is owned by Jones, is cashing in on a surge in fuel prices. According to The Dallas Morning News, the company has seen some regional hubs past $1,000 per million British thermal units.
The gas from Comstock’s Haynesville wells was sold on the spot market ranging between $15 and $179 per thousand cubic feet. These numbers covert to around $15.55 and $186 per million British thermal units.
Comstock Resources chief financial officer Roland Burns acknowledged on Wednesday that the price rise is like “hitting the jackpot.”
“This week is like hitting the jackpot with some of these incredible prices,” Burns said. “Frankly, we were able to sell at super premium prices for a material amount of production.”
Jones originally had a $1.1 billion investment in the company, the leading producer in one of the country’s biggest natural gas basins. As millions of Texas residents struggle through this historic weather crisis, the longtime Cowboys owner is lining his pockets.
Weather improvement lies ahead
The last week has been nothing short of torturous for Texas residents, but there is light at the end of the tunnel.
The winter storm is beginning to move east, which should see a significant rise in temperature in the coming days in many areas across the state. Many have seen their power return, but lingering issues remain with the water supply, with million still under boil water notices.
The next several weeks and few months will be quite critical as residents work toward getting back on their feet from the disastrous situation.