Damages tied to the 'life-threatening crisis' caused by the winter storm in Texas could approach $50 billion

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The estimate, provided earlier this week by AccuWeather CEO Joel Myers, accounts for lost wages, damages to businesses and homes, and cleanup costs across the region.

AccuWeather's Chief Meteorologist Jonathan Porter said that the estimate"denotes the historic magnitude and just how much of a life-threatening crisis this has been for people in the Southern Plains, the Southeast and especially Texas." "It's it's yet another setback for businesses that don't need it in a very challenging year," Porter continued.

The forecasting-technology company reported serious damage to homes and businesses after freezing cold temperatures caused water pipes to burst and other issues in the state, which was resoundingly unprepared for such a major cold snap., as of Friday, the majority of Texans affected by the blackout had their power restored. At its peak, the blackout affected over 3 million people. Winter storms pummeled the state's energy grid and forced shutoffs to power and heat.

Since Texas effectively operates on its own power grid, it is difficult for the state to draw power from other areas that are not experiencing blackouts,

 

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