The Texas catastrophe shows how capitalism is destroying the planet

  The economic misery imposed on Texans demonstrates how neoliberalism has created a rigged market and a client state. " data-adaptive-image-768-img="" data-adaptive-image-max-img=""> In Texas this month, nature struck capitalism with such force  that it created a modern parable: the parable of the people who did not want a government. The Texan energy system was designed to be self-sufficient in order to avoid US government regulation. By avoiding regulation, the state ducked any obligation to prepare the grid for extreme winter temperatures, any obligation for suppliers to actually supply electricity, and any cap on pricing when demand exceeds supply. So when sub-zero temperatures took down power lines, froze wind turbines and even the gauges in gas-fired power stations, four million Texans suffered a prolonged power outage and some burned furniture for heat and to boil snow for drinking water. Some of those whose lights stayed on were presented with  five- .. Full story on newstatesman.com 

texas, catastrophe, capitalism, destroying, planet Image source : newstatesman.com
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