Powerful ad by Shawn Lassiter, a new candidate for congress in Texas.

Denton (Texas) Record-Chronicle:

Denton Municipal Electric since Tuesday has spent $207 million to buy electricity, and officials now have to borrow the same amount to make the company whole in a crisis they didn’t create.

“This is a situation that no one could have predicted, obviously,” said David Gaines, an assistant city manager and Denton’s chief financial officer, in a virtual Denton City Council meeting Friday morning. “Our power expenses on a single day exceeded the expenses for the entirety of last year.”

DME is the city’s electricity provider.

“The immediate concern we have is what this means to our fund,” Gaines said after the meeting.

The DME budget is about $231.4 million.

“The $207 million we spent is for buying power off the grid,” he told the Denton Record-Chronicle later. “The immediate concern is that depleted our reserves. We had $100 million fund balance in the electric fund, but we had $200 million in unexpected costs. We’ve got to make up that whole $200 million just for immediate cash flow needs.”

Council member Deb Armintor called it a “statewide financial crisis.”

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OK they probably use some current – let’s generate it with renewables.

As Texas showed us last week, climate change impacts can sneak up on us because the underlying signal is (in human terms) very gradual, but jumps out when extreme events stress engineering or economic systems beyond the design assumptions – it’s an emerging pattern.

In reviewing my 2014 interview with Richard Alley, I found he spoke exactly to this point, in terms of both built and economic infrastructure.

ClimateWire:

Treasury Secretary Janet Yellen yesterday offered a glimpse of the Biden administration’s approach to mitigating the risks that climate change poses to the financial system.

Progressives were discouraged by what she had to say.

During a virtual event hosted by The New York Times, Yellen said the Treasury Department may facilitate “stress tests” to gauge banks’ and insurers’ ability to stay afloat amid economic volatility spurred by rising temperatures.

But she stopped short of saying climate-related stress tests would come with any tangible consequences for banks or insurers that are identified as overexposed to mounting climate threats. Those threats, she said, could stem from future environmental regulations — such as carbon prices — or the financial fallout of extreme weather.

That marks a significant departure from the stress tests the Federal Reserve currently conducts.

First used widely after the 2007-08 financial crisis, the Fed simulates hypothetical, yet plausible, economic shocks to test banks’ ability to continue lending amid an economic downturn. When firms fail those assessments, they are required to correct the problem — and avoid potential collapse down the line — by socking away more money, among other actions.

But Yellen said this week that when it comes to climate-related stress testing, “it’s not envisioned that these tests would have the same status in terms of limiting payouts and capital requirements.”

Even so, Yellen said, they would be “very revealing both to regulators and to the firms themselves in terms of managing their own risks.”

That line of thinking runs contrary to policy proposals touted by advocates promoting private and public financial sector actors to stem the flow of capital into planet-warming sectors.

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Financial reporters cut to the chase.

No coincidence that the smart people who can land an SUV on Mars remotely, also give us the best science and data about climate.
Something to remember. The achievements of the last week are a balm to those of us who are raw from years of science denial and ignorance.
This is America. We can still do stuff.
UPDATE: Now, the sounds of Mars.

House Republican Whip Steve Scalise (R-La.) makes a few things clear here.

Republicans refuse to acknowledge a legitimate election they lost.

Their main focus is to maintain supremacy of the fossil fuel barons.

They will continue to manipulate election laws at the state level to insure their desired result in the future.

UPDATE: Below, Climate denial vector “American Thinker” had to think again about their election denial when served with a threat of legal action by a voting machine company:

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One of the bright spots in following the incredible, watershed events in Texas over the last week, has been the amazing news coverage from Texas local Television. Especially would single out KHOU-11 in Houston, and WFAA-8 Dallas, and I would urge anyone looking for coverage from those closest to the story to browse the videos from last week.

Above, Jason Wheeler breaks down some of the insanity behind the ridiculous electric bills Texans are now receiving, often after having been blacked or browned out for most of a week.

Below, good report from KHOU on the difference between areas within, and just outside, the ERCOT service area.

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