The shocking economics of power and prices

Published February 23, 2021 12:00am ET



Texans survived their deep freeze, but it wasn’t easy. Last week, winter storms and bitter cold strained the state’s resources. By now, everyone knows about the electricity disaster. Millions of Texans, including some of my colleagues, went without power for days. Temperatures dropped below freezing indoors. In West Texas, we even dipped below zero degrees Fahrenheit.

As we survey the damage, we've been talking about another disaster that plagued the state: price gouging.

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