Robert Reich wants us all to believe that Texas is especially evil and that the plutocratic capitalists sit there, cackling with glee, as the poor freeze. That inequality there is more and worse than elsewhere.
Which is why he says the following:
Texas has the third-highest number of billionaires in America, most of them oil tycoons.
Well, yes, OK. Except this:
Texas has the second largest population so, if billionaires were randomly, or even averagely, distributed then we’d expect it to have the second largest number of them.
Reich is using a lower incidence of plutocrats as evidence of how plutocratic the place is.
That’s either idiocy or casuistry, one or the other.
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One does wonder whether California has the highest number of billionaires?
But the relevant point is that Texas has subsidised a huge amount of unreliable renewables. This means that the electricity price and market share of reliable generators has dropped, while they'd need to supply more electricity in a crisis. Not surprisingly, the reliables haven't been spending more and more money to cover any failure of the renewables, and incidentally make sure that they earn less when the crisis comes.
The obvious cure is to demand that renewables subsidise fossil and nukes to make sure they're available for when wind and solar aren't doing the job. If this means the rubbishy renewables go bankrupt, well getting rid of the trash is an extra benefit.
Robert Reich (height 4ft 10.6in) needs to grow up