As Texans suffer from an unusually brutal winter storm, Jerry Jones’ financial influence only grows.
For obvious reasons, it’s not a great look for the Cowboys owner. Jerry Jones is the primary shareholder in Comstock Resources Inc., a shale driller that operates in Texas and Louisiana. One of the few oil and gas producers that managed to continue their high production demands in this weather, Comstock has benefitted immensely from the faults of their competition, all the while bragging of their rapidly-growing bottom line as one of the prime areas they serve freezes over.
Jones is not the CEO of Comstock, but he does hold the majority of the shares in the company. In a meeting with shareholders, the company’s CFO claimed that they “hit the jackpot” in their response to the winter storm.
Jerry Jones profits while Cowboys fans struggle
While Jones does have tremendous influence as the primary shareholder, he does not own the company. That being said, it would be nice to see Jones using some of his influence to help Texans in need, rather than simply enjoying his money pit.
The demand for natural gas has only increased in such trying times in the Southwest, making for some concerning habits and astonishing prices for resources most need just to stay warm. Texas has its own energy grid, which makes for a certain level of independence allowing companies and capitalists to profit. This also means Texas isn’t subject to federal regulation, which in dire cases like these, looks like an obvious oversight.
As temperatures fell far below freezing, Comstock marked up their energy prices for their own gain, increasing profit for the likes of Jones and others.
Put simply, it’s time for the Cowboys owner to give back in the face of such disaster, not just to avoid blowback but to help those he relies on for a profit.