• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

Texas storm that crippled grid will not be a ‘one-off,’ warns new secretary of energy

By
Katherine Dunn
Katherine Dunn
Down Arrow Button Icon
By
Katherine Dunn
Katherine Dunn
Down Arrow Button Icon
March 3, 2021, 11:42 AM ET
Add Fortune on Google for similar content.

The freezing storm that battered Texas, resulting in power losses for millions, is a sign of what’s to come, the newly confirmed secretary of energy for the Biden administration warned on Wednesday.

“There will be events like this that occur with greater frequency,” Jennifer Granholm said. “And we have to think of the resilience of the grid, even if you live in warm places.”

Granholm was speaking at CERAWeek, the annual U.S. energy industry conference, in her first official engagement since she was officially confirmed by the Senate five days ago. She previously served as governor of Michigan, where she oversaw federal rescue packages for some of the state’s largest carmakers during the height of the financial crisis.

Granholm followed her warning that Texas’s crippling winter storm will not be just a “one-off” by urging the state’s legislators to consider connecting its grid to that of its neighbors. Texas’s isolated grid, which cannot take or provide power to neighboring states, was flagged as one of the causes for the extent of the blackouts, reducing its flexibility to draw power from other sources.

“I understand the, you know, sort of ‘go it alone’ ethos, but there’s also an ethos of helping your neighbor, too,” Granholm said.

Granholm’s appointment is part of an early focus from the Biden-Harris administration on rapidly advancing clean energy and emissions targets, after the Trump administration largely rolled back climate and energy legislation. Biden began his term by reentering the U.S. in the Paris Agreement; he has also said that the country must reach net-zero emissions by 2050, in part by being 100% reliant on clean energy.

Her appearance also coincided with signs of a tentative shift within the U.S. oil and gas industry, the main audience for Wednesday’s appearance (when not held online, CERAWeek takes place in Houston). On Tuesday, a leaked draft from the American Petroleum Institute (API), the industry’s powerful lobbying body, appeared to suggest it will definitively back carbon pricing as a means to incentivize lowering emissions. Such a move would represent a departure for the API, which has previously staunchly opposed such an approach.

Granholm also emphasized the potential positives of a wide-scale energy transition, arguing that it would be a “heck of an economic opportunity” and that the market for products that reduce emissions would hit $23 trillion globally over the coming decades.

“Are we going to get in the battle? Or are we going to bring a knife to a gunfight?” she said.

However, she also acknowledged that the pace of the transition has provoked anxieties among the oil and gas industry about the scale of potential job loss in the sector.

“I’m not going to sugarcoat how hard transitions are. I saw it firsthand, as governor, when people lost their jobs through no fault of their own,” Granholm said, while arguing that skills would be able to be transferred to the promised boom industries of wind development and geothermal.

“This is our opportunity to build the energy economy back better, in a way that lifts up communities that have felt unseen or abandoned or left behind too long,” she said, through clear opportunities to create clean energy jobs.

That also includes communities of color, who have been particularly hard hit by air pollution and high energy prices, she noted, and who are often the “first and worst” impacted by the climate emergency.

About the Author
By Katherine Dunn
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

ken
Future of Workphilanthropy
Ken Griffin celebrates America’s 250th birthday with $26 million gift for new Roosevelt Library built into the Badlands
By Nick LichtenbergJune 25, 2026
2 hours ago
President Donald Trump speaking at a rally in Pennsylvania on June 23, 2026.
Economyoil and gas
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
2 hours ago
A man pumps his car with gas.
EconomyInflation
U.S. companies swallowed the oil shock. They’re not sure they can do it again
By Sasha RogelbergJune 25, 2026
3 hours ago
GTA 6 release date is finally here—but the $80 price tag and missing disc have gamers furious
Arts & EntertainmentGaming
GTA 6 release date is finally here—but the $80 price tag and missing disc have gamers furious
By Whizy Kim and Tech BrewJune 25, 2026
4 hours ago
Tru Niagen
HealthDietary Supplements
Tru Niagen Review (2026): Our Honest Thoughts
By Emily PharesJune 25, 2026
4 hours ago
Private equity gets cut of two of Taylor Swift’s biggest pop hits through Max Martin’s catalog sale
Arts & Entertainmentprivate equity
Private equity gets cut of two of Taylor Swift’s biggest pop hits through Max Martin’s catalog sale
By Mia OsmonbekovJune 25, 2026
5 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
16 hours ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
16 hours ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
1 day ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
1 day ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.