![]() ![]() The power outages brought the world’s largest petrochemical complex to a. Greg Abbott called on state lawmakers to require that the states power plants and generators be winterized so. The February freeze that triggered mass blackouts in Texas led to chemical plant shutdowns that are disrupting global supply chains, causing a shortage of the raw materials needed for everything from medical face shields to smartphones. showed few signs of abating Tuesday as blackouts left almost 5 million customers without electricity, while refineries and oil wells were shut during unprecedented freezing weather. In the wake of the deep freeze, Texas Gov. In December, historic cold swept across Asia and then a sudden stratospheric warming event “reshuffled the pattern and amped it up to aim the coldest weather into the central U.S. A utilities truck drives down the street during a power outage in McKinney, Texas, U.S., on Tuesday, Feb. But the states power grid, operated by Electric Reliability Council of Texas (ERCOT), is designed to handle extreme demand only over relatively short periods of time in summer. We must focus our efforts on helping our communities to recover and to get people back to their normal lives. Millions were without power, heat, and water for several days, and each of Texas’ 254 counties was affected in some way. Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS. The 2021 storm battered Texas with freezing temperatures, snow and ice during a sustained period last February. Winter Storm Uri has resulted in a humanitarian crisis for the state of Texas. The frigid blast that toppled the Texas electric grid was part of one of the toughest winters across the entire Northern Hemisphere in 10 years, said Todd Crawford, lead meteorologists with the Weather Co. TEXAS Victims of winter storms that began Februnow have until June 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The estimate includes $45 billion in economic losses from impacts to government accounts and disruptions to supply chains, he said. ![]() Of that, about $20 billion will be covered by insurance. Insurers and reinsurers sustained significant insured losses in the. Of his $80 billion to $90 billion estimate for direct and indirect losses, there will probably be about $35 billion in physical damages, such as water damage from burst pipes. Reinsurance plays key role as P&C insurers deal with Texas freeze in Q1. “To me a huge part of the story is that a few hundred million of mitigation investment over the last decade or so, since the 2011 FERC report, and a bit more planning could have probably prevented 90% of the damage,” he said. Probably about 90% of the losses could have been avoided with preventive measures, Watson said, citing a Federal Energy Regulatory Commission report on the state’s previous crippling cold blast a decade ago. ![]()
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