Tonight: A deep freeze sends Texas electricity prices soaring 10,000%; Citibank can't fix a $500 million oopsie; and vegan KitKats are now a thing.
Electricity prices spiked more than 10,000% when the winter storm hit this week.
It's striking that these power outages are happening in mighty Texas, the energy powerhouse of America.
Texas produces more electricity than any other US state — generating almost twice as much as Florida, the next-closest, according to federal statistics.
Wind power is also booming in Texas, which produced about 28% of all the US wind-powered electricity in 2019.
The state's infrastructure is simply not prepared for a deep freeze.
In other words: "When it comes to electricity, what happens in Texas stays in Texas," said Dan Cohan, associate professor of environmental engineering at Rice University. »