Texas Winter Storm May Cost Us More Than Any Other Disaster
Back in 2017, our Gulf Coast was devastated by Hurricane Harvey. It ended up costing the state of Texas more than $125 billion, making it the most expensive natural disaster in our history.
Although the data is still out, our recent winter storm may break that record.
Tragically, dozens were killed and most of us were left without power, or water, or both--some for days and days.
Nim Kidd, the chief of the Texas Department of Emergency Management, said that "as of Monday, state agencies reported spending $41 million on the storm, and local governments had spent $49 million," according to the Texas Tribune.
Though Kidd expects the federal government may reimburse Texas up to 75% of the cost, the Texas Tribune reports "only a fraction of local governments reported their spending [...] and the expenses already incurred by state and local governments only account for emergency costs."
CBS News reported just a few days ago that "The Perryman Group, a Texas-based economic research firm, projected that Winter Storm Uri could end up costing a total of $195 billion on the low end and as much as $295 billion. Those figures include lost income as well as long-term reduction in economic output stemming from factories and businesses that closed during the storm."
And we still have yet to fully understand how much damage may have been done to our infrastructure. Many East Texans are still reporting empty shelves at grocery stores, burst pipes, and other types of home damage.
My sincere hope is that once we recover that Texas takes the needed steps to ensure that should this happen again, we will be much better prepared.
What issues are you still dealing with as a result of the winter storm? Let us know in the comments.