Texas fires follow Warren Buffett's warning on utilities
Texas fires follow Warren Buffett's warning on utilities
Massive wildfires sparked by power lines, once considered a California problem, are now occurring across the western US. Climate change and aging infrastructure are contributing factors. The article discusses the bankruptcy of PG&E Corp. in 2019 due to fire-related issues and Warren Buffett's warning about the financial risks faced by utilities. The recent Texas wildfires, blamed on power lines, highlight the increasing danger and costs faced by utility companies.
Note
what a high price all of us are paying because we can't figure out how to squeeze more profits out of utility companies that likely are best to be publicly owned.
Published
2024
Summary
Massive wildfires sparked by power lines, once considered a California problem, are now occurring across the western US. Climate change and aging infrastructure are contributing factors. The article discusses the bankruptcy of PG&E Corp. in 2019 due to fire-related issues and Warren Buffett's warning about the financial risks faced by utilities. The recent Texas wildfires, blamed on power lines, highlight the increasing danger and costs faced by utility companies.
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