The Texas Blackout: Even Climate-Related Financial Risk is Bigger in Texas

In what we all hope is not a sign of more to come after a year that most would like to forget, the US economy was mere minutes away from a potential economic crisis just weeks into 2021. As the power grid and natural gas distribution network in Texas began to crumble under significant demand from Texans simply trying to stay warm and keep the lights on, the power grid was less than 5 minutes from an unprecedented failure that would have plunged Texas into darkness for weeks or even months.
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