Devastating winter storms hit Texas last week, leaving thousands of people in the state without power, water and heating in dire conditions. Thousands have been cold and hungry for days as a result of storms.
The suffering for the community has benefited oil and natural gas producers, with rising prices. What does this have to do with sports? Dallas Cowboys billionaire owner Jerry Jones is one of those beneficiaries.
Bloomberg reported that Jones holds a majority stake in natural gas company Comstock Resources Inc., a drilling rig operating in Texas and Louisiana, and has been able to sell gas at premium prices since Thursday as demand increases amid cold. Jones’ gas company achieved a huge increase as many will see higher bills.
“This week is like winning big with some of these incredible prices,” said CFO Roland Burns. “Frankly, we were able to sell at super premium prices for a significant amount of production.”
NPR noted that Comstock was already increasing production in anticipation of rising natural gas prices.
I understand that Burns’ job is to make a profit for Comstock, but bragging about making money from a natural disaster while thousands of people are suffering seems almost as bad as flying to Cancún.
– Aron Yohannes