Just a week after a massive storm battered much of the US, another is sweeping across the midwest and is heading east. On the heels of the storm is a brutal arctic blast that will bring freezing temperatures to much of the US, including states that are unaccustomed to seeing temperatures so low.
Texas is set to experience temperatures 30 to 40 degrees below average, with the mercury dipping into the low 20s. Residents of the state are doing their best to prepare for the extreme cold, stocking up on emergency supplies and generators, leaving many stores picked through.
Fears Of The Past
Three years ago, a massive winter storm hit Texas. The freezing temperatures and snow wreaked havoc on the unprepared state, leaving at least 246 people dead in their homes, cars, and backyards.
The power grid failed in much of the state, leaving millions without electricity to run their heating systems. The Electric Reliability Council of Texas, which runs the grid, promised rolling blackouts. Instead, most were without power for over 48 hours.
Some residents froze to death, like a 69-year-old man in a rural community south of San Antonio who was found in his house where he lived alone. The temperature inside was 35 degrees.
Others died of carbon monoxide poisoning, attempting to use gas appliances or their vehicles to warm themselves like Etenesh Mersha. The Houston resident was warming herself and charging her phone in her car, running it inside her closed garage when she began to feel tired. She was found soon after, unresponsive.
The storm led to intensive investigations of what went wrong and officials are confident that a repeat of 2021 is unlikely. Governor Greg Abbott increased the readiness level of his state’s operations center, saying “The State of Texas stands ready to deploy all available resources to take care of Texans and our communities as multiple severe weather threats begin to impact the state.”
A Changing Climate
With climate change accelerating, major storm patterns are likely to become all too common. And with these, disasters are sure to occur. Investing in companies that are involved in disaster relief could be a smart play.
Investing in the space can be done on an individual basis or through a thematic fund like ProcureAM’s Disaster Recovery Strategy ETF FIXT. Funds like FIXT have teams of experts who do the hard work of researching and analyzing opportunities on behalf of investors.