Imagine being pinned under the weight of a debt you had no part in being created. You just woke up one day and were told that you owed eight bucks or so a month for the next quarter century.
That’s exactly what’s just happened to all of us in the state of Oklahoma.
By the split vote of three people, each Oklahoma Natural Gas customer owes them for that frigid week last February. They got shot down on that whole thousands of dollars fee if they opted out and went full electric or solar after being roped into this privatized profit, socialized risk situation.
“Instead of challenging the prices the utility and its customers were charged, Oklahoma is readying a plan to use securitization — which works similar to a credit card — to cover the debt. It will pay off the $1.4 billion, plus interest, by charging customers as much as $7.80 a month over the next 25 years,” according to Oklahoma Watch.
In order to keep homes warm and pipes thawed, ONG decided to purchase fuel from the spot market at 600 times its normal cost.
“Imagine if you went to the gas station and filled up $50 of gas for your car based on the prices the sign says. And then two months later, you get told you actually have to engage in a payment plan to pay off a 1,000 times that price,” Oklahoma resident and man pictured in a lab coat on Oklahoma Watch’s site, Neil Crittenden said.
A Google search reveals that he is actually Dr. Neil Crittenden, a medical doctor specializing in gastroenterology and internal medicine with Integris.
And if he doesn’t have the stomach to swallow this, then why should we?