DALLAS (NEWS RELEASE) — The following is a news release from the Federal Reserve Bank of Dallas:
In a new post on Dallas Fed Economics, Garrett Golding, Anil Kumar and Karel Mertens analyze the power outage that struck Texas in mid-February and whether the cost of preventive measures is economically justified.
“Though the cost of annual preparations for extreme and relatively infrequent weather events has proven difficult for policymakers and industry to justify, the shocking aftermath of the February freeze and the resulting widespread power outage demand a careful re-examination,” the authors write. “Our analysis indicates winterizing for extreme winter weather events appears financially reasonable.”
Also on Dallas Fed Economics: Surging oil prices in February have raised hopes that the worst may be over for oil markets, though recent evidence suggests that the recovery will not last.
(News release from the Federal Reserve Bank of Dallas)