Episode summary
Major Storm to Test Power Grids Across Much of US This Weekend | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Josh Saul, Andrew Krei, Alexandra Levine, Lauren Hochfelder
Summary
A major winter storm is bearing down on a vast stretch of the U.S., with snow, ice and bitter cold threatening travel, utilities and power demand from the Rockies to New England. The discussion centered on why Texas is especially vulnerable, with the grid facing a demand peak of 84 gigawatts and the added risk that extreme cold can stress equipment and lines. The host and a guest also linked the storm to broader climate patterns, arguing that climate change is making weather more erratic and intense rather than simply warmer.
The conversation then shifted to markets, where geopolitics, tariffs and policy uncertainty were described as a growing risk for equities and for the long end of the yield curve. One guest said the market feels unusually buoyant against a fragmented macro backdrop and warned that higher yields could pressure expensive growth and tech stocks. Another guest argued that investors are quietly moving away from U.S. assets and into places like emerging markets and gold as they seek insulation from policy risk.
Later, the show turned to the TikTok deal, saying the app’s U.S. arm will be controlled by a consortium led by Oracle, Silver Lake and MGX, while ByteDance keeps key economic pieces such as TikTok Shop and advertising. The episode ended with a real estate discussion that favored long-term themes such as aging demographics, supply-chain realignment and senior housing over office, while warning that housing affordability will only improve when supply rises.
Key takeaways
- The storm is expected to hit about 170 million Americans and could push Texas power demand to 84 gigawatts, a severe test for the grid.
- A guest said climate change is best understood as more erratic swings and more extreme weather, not just warming temperatures.
- Market risk is increasingly tied to geopolitics, policy uncertainty and higher long-term yields, which could hurt high-valuation tech stocks.
- A guest described a “sell America” shift, with investors moving money into emerging markets and gold to reduce exposure to U.S. policy risk.
- The TikTok U.S. deal leaves ByteDance involved in algorithm leasing, TikTok Shop and advertising, while Oracle is positioned as the security gatekeeper.
- Real estate investors were told to focus on structural themes like senior housing and industrial, while office remains dependent on better-quality assets.
Notable quotes
“Texas is not used to extreme cold. So when you have a polar vortex, you know, pressing down from the Arctic like we have”
“Climate change is a more accurate broader term because what the what climate change does is it makes for more erratic swings swings in temperature”
“there's been an uneasiness about the general rally in the S&P 500 just feeling like whether it's the labor market starting to fragment somewhat”
“we're seeing a dramatic decline in new supply in part because replacement costs have risen”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — This is Bloomberg Business Week Daily, reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. The Bloomberg Business Week Daily podcast with Carol Masser and Tim Stenc on Bloomberg Radio.
All right, folks. Let's get to what is top of everyone's mind, and that is the winter storm stretching from the southern Rockies to New England. It is expected to impact at least 170 million Americans, including everybody around the table and certainly here at our New York bureau. Let's get the latest. Bloomberg News energy reporter Josh Saul back in the house with us. So, where are we? Has it gotten any better? It's still going to snow, Josh.
It's still going to snow. — It's going to snow a lot. We're going to see up to a foot of snow here in New York City. Okay. — On Sunday, I might cancel my kids basketball game,
But uh snow is already following the Rockies. Um and what's amazing about this one is it's such a huge part of the United States. Uh this will affect up to 170 million people, stretching, it's going to stretch, 1500 miles.
Um and a big test will be Texas on Monday morning. why Texas is such a test. Is it because of what happened there a few years ago?
Is it because of uh the concerns with the power lines freezing there? What is it?
It's partly because uh we saw uh so many deaths in such an intense power grid emergency uh almost 5 years ago. Um but Texas is not used to extreme cold. So when you have a polar vortex, you know, pressing down from the Arctic like we have, uh that's going to just put a lot of stress uh on the state.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- winter storm power grids
- natural gas prices
- fed policy
- tiktok sale
- us real estate outlook
Companies and tickers mentioned
- ORCL
- MS
- TikTok
- Oracle
- Crescent Grove Advisors
- Morgan Stanley
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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