OK. I have seen a lot of attempted dunking on Texas...red state bad, bad government, etc...because of the electricity issue in this record cold. So, I am going to do a thread here. I am no engineer, but I want to point out some obvious facts. 1/n

This is a natural disaster of large proportions. At no time in recorded have this many Texas counties been below freezing for so long...ever. We are prepared for short stints, not an ice age. It snowed on Galveston island and much of the state is covered in snow and ice.

This chart shows electricity production since Feb 4. Note the large share from wind prior to the cold snap. Texas typically does not use as much electricity in winter, so gas plants are typically offline and have smaller reserves of gas.

But as the cold hit, renewable production fell by as much as 93%. Gas plants fired up and easily met the ERCOT stress test levels initially, but electricity quantity demanded was rising, so was gas for heating. Eventually, there were shortages of gas that led to a drop in prod.

Why shortages? Because gas producers were contractually obligated to export gas all the while residential heating demand was rising as well...hence Gov Abbot's order. It provides more cover for force majeure contract breakage.