Texas Deep Freeze = Big $$$ for Jerry Jones

To paraphrase...one state's misfortune can be someone else's opportunity...As Texas is gripped by a devastating winter storm, Cowboy's owner Jerry Jones is making a tidy profit. 

While the freezing conditions forced other power plants to shutdown, Jones' Comstock Resources remained operational as gas prices skyrocketed. And Comstock executives aren't hiding their excitement about the profits they're raking in. In a tone-deaf statement to analysts, CFO Ronald Burns boasted that "this week is like hitting the jackpot with some of these incredible prices...Frankly we were able to sell at super premium prices for a material amount of production."

Comstock's share was up 21% over the past week. Yes, some of that was due to better than expected Q4 results, but the market is always forward looking and the CFO's not-so-subtle intimation was that Q1 is looking real good too-- thanks to the storm. Jones owns around 70% of Comstock. The company's market cap rose from $1.19B to $1.44B last week; translating to $175M in personal gain. Not bad, not bad at all.

Look, Jones didn't cause the crisis...and his company, to its credit, remained functional while many others couldn't. And this map would probably look even worse without the gas Comstock was providing...But maybe not be so gleeful, publically. 

After all, there are a lot Cowboys fans in those red and orange counties...and they are getting bills like this from their gas providers or worse:

  

(And also...when you aggressively de-regulate you increase the chances of this type of debacle. Left to pure profit maximization, companies are simply not going to prepare for tail-risk events like this...that cost a lot of money and are a negative carry most of the time.)