The devastating winter storm in Texas will cost the region, which was declared a « Major Disaster Zone » by President Joe Biden, about $ 50 billion.
The exorbitant figure would cover the cost of lost wages, repairing damage to businesses and people’s homes, as well as the cost of cleaning up in and around the state, according to the AccuWeather weather forecast website.
Its chief meteorologist, Jonathan Porter, stated: “[La estimación] it denotes the historical magnitude and degree of crisis that has threatened the lives of people in the southern plains, the southeast, and especially in Texas.
He described the crisis as « another setback for businesses that don’t need it in a very challenging year, » adding that the recent storm was the worst cold front in Texas since December 1989.
Bad weather left more than 3 million Texans without power after increased demand for heating overwhelmed their power grid.
Most of those affected by the blackout have regained power, according to Business Insider. The state was not prepared to deal with such a major cold snap.
AccuWeather also reported that many homes and businesses were seriously damaged after freezing temperatures blew out water pipes.
Texas effectively operates on its own electrical grid, making it difficult for the state to access power from other areas that are not experiencing blackouts.
Meanwhile, the White House issued a statement to announce that « President Joseph R. Biden, Jr. declared that there is a major disaster in the state of Texas and ordered federal assistance to complement state and local recovery efforts in areas affected by severe winter storms that began on February 11, 2021 and continued, « according to ..
The measure includes « grants for temporary housing and repairs, low-cost loans to cover uninsured property losses and other programs to help individuals and business owners recover from the effects of the disaster, » according to the White House.