Balance of Power Podcast: "US Braces for Massive Winter Storm"

Date: January 23, 2026
Host: Joe Mathieu (with Kailey Leinz and guests)
Produced by Bloomberg

Overview

This episode of Bloomberg’s Balance of Power focuses on the sweeping impacts – logistical, economic, and political – of an unprecedented winter storm, “Winter Storm Fern,” stretching from Texas to New York. Through expert interviews (energy reporters, emergency management officials, political panelists, and elected officials), the show examines preparedness, vulnerabilities in infrastructure (especially power grids), political accountability, and the implications of federal agency staffing cuts as millions brace for record cold, snow, and potential blackouts.

Key Segments & Discussion Points

1. Storm Impact & National Scope

Guest: Josh Saul, Bloomberg Energy Reporter
Timestamps: 00:56 – 06:24

• Historic Scale:

  • The storm is described as “stretching across the entire country” (02:25), with “up to 170 million Americans affected” and cold pushed as far south as Texas by a polar vortex (03:16).
  • New York expected to see up to 16 inches of snow (06:24).

• Texas Vulnerabilities:

  • Texas faces particular risk due to its independent and previously fragile power grid, referencing “the grid that failed severely in the last ice storm” (01:28).
  • Anticipated “record in energy demand” on the grid due to heating needs (02:32).

• Preparation Urgency:

  • Utilities have “thousands of workers standing by” and the public is urged to take the storm “seriously and prepare” (03:31).
  • Concerns about trees and ice bringing power lines down, causing potentially “deadly” outages (03:53, 04:25).

Notable Quote:

“The amount of demand that the cold is going to place on the grid… we could see a record in energy demand. And that's going to be tough for the grid, just like we saw back in winter storm Uri.” – Josh Saul (02:32)

2. Grid Failure & Restoration Challenges

Guest: Josh Saul
Timestamps: 05:08 – 06:24

• Infrastructure Risks:
  • Ice accumulation can “drag to the ground power lines”.
  • Blackouts can be prolonged and restoration is technically complex:

    “It's not as simple as turning the lights back on in a room that's gone dark.” – Josh Saul (06:16)

  • Emphasis on critical infrastructure prioritization (hospitals, emergency centers).

3. New York’s Response: No More Traditional Snow Days

Guest: Mayor Zoran Mamdani, NYC
Timestamps: 07:13 – 07:53, 24:28 – 25:08

• Citywide Coordination:

  • “We are working together to ensure our streets are being kept clear, that New Yorkers are safeguarded, and that the most vulnerable among us are being connected with shelter.” (07:18, 24:32)

• Education:

  • Unprecedented decision: “I have to apologize to the students… There will not be a traditional snow day; it will be remote learning.” (07:43, 25:07)

Notable Quote:

“While we are still waiting to make a final decision on whether school will be in person or virtual, ...that will not be the case [for a snow day].” – Mayor Mamdani (07:48, 25:07)

4. Federal Coordination & FEMA Cuts

Guest: Dan Criswell, former FEMA Administrator
Timestamps: 07:53 – 15:15

• Logistical Challenge:

  • FEMA stockpiles equipment and strives to “pre-position” resources but only does so “at the request of the state” (08:26).
  • Emphasis on rapid response for power outages, provision of “generators, blankets, food, and water” for shelters.

• Texas Recommendations & Grid Hardening:

  • FEMA’s work with Texas focused on “educating the public” and “hardening the grid” using mitigation programs, but “you’re never going to stop it completely” (10:01).

• Federal Staffing Shortfalls:

  • FEMA has lost “over 3,700 employees, about 14%” due to budget cuts.
  • Reduction of the “cadre of on-call response recovery employees” – key first responders – could delay disaster recovery (13:15).

Notable Quotes:

“With the loss of staff, it just makes it harder to keep up with demand, with the requests and helping to support those communities.” – Dan Criswell (11:48)
“When you lose those personnel, you lose not just numbers, but you lose knowledge… All of that takes time to rebuild.” – Dan Criswell (13:52)

5. Political Commentary: Accountability & Resource Strain

Panelists: Rick Davis, Jeannie Shanzano
Timestamps: 15:47 – 17:05, 25:20 – 29:42

• Federal-State Resource Interdependence:

  • Federal resources (generators, equipment, aid packages) are essential for states’ responses (15:47).
  • The storm is a test for both federal and local political leaders.

• Institutional Knowledge at Stake:

  • The loss of experienced FEMA employees is seen as a vital “brain drain” that may haunt future response efforts (16:51).

Notable Quote:

“We as citizens count on [federal employees] during times of crisis and weather related issues like this today.” – Jeannie Shanzano (16:56)

6. Economic Impact: Natural Gas Prices & Market Reactions

Guest: Mike McGlone, Bloomberg Intelligence
Timestamps: 20:57 – 23:40

• Energy Market Volatility:

  • “Nat gas” prices up over 60% this week, attributed to the “major cold spell.”
  • Markets “front-run” the weather, but prices expected to drop as the March contract arrives and demand eases (21:20).

• U.S. Energy Supply Resilience:

  • U.S. has strong elasticity of supply, so price surges are usually temporary.
  • If prices stay high, “that’s going to be inflationary,” with economic effects beyond the storm (23:15).

Memorable Moment:

“So much for global warming with these winters getting very much colder.” – Mike McGlone (21:20)

7. Political Stakes for Local Leaders: Mayors & Governors

Panelists: Jeannie Shanzano, Rick Davis
Timestamps: 25:49 – 31:15

• New York’s Mayor Mamdani:

  • His response to snow removal and safety is described as a political “test.”
  • “Your future... depends on your ability to manage response to the weather.” – Jeannie Shanzano (26:20)

• Texas’ Governor Abbott:

  • Texas is “not really built for this” (28:29); response improvements since 2021 are on the line.
  • Politicians are advised: “Storm coming, you’re away, don’t be Marion Barry or Chris Christie. Go home or stay home. That’s the rule.” – Jeannie Shanzano (28:29)

• President Trump:

  • Speculation about him staying in Washington “to oversee the federal response,” highlighting the political optics for the White House (15:47, 30:01).
  • Mention of high-profile politicians (Ted Cruz) being out of state during crisis and the lessons learned.

8. Congressional Viewpoint: Storm, Redistricting, & FEMA Cuts

Guest: Rep. Nicole Malliotakis (R-NY)
Timestamps: 33:49 – 40:59

• Local Readiness:

  • Confidence in New York’s “rank and file men and women” to keep the city going despite political pressures.

• Political Stakes:

  • “There’s no Republican or Democrat way to take out the garbage... same thing... for shoveling and plowing snow.” (34:29)
  • Mayors are “in a no win situation” after storms – if the job is done well, credit often goes to ground workers.

• Redistricting Battle:

  • Malliotakis decries recent court-ordered redistricting as unfair and “not the way democracy works.”
  • Emphasizes need for bipartisan representation in Congress.

• On FEMA Cuts:

  • Acknowledges need to eliminate “bloat and bureaucracy” but says agencies must be “targeted and precise” to avoid undermining critical disaster response (40:10).

9. Texas Perspective: On-the-Ground Storm Readiness

Guest: Julie Fine, Bloomberg Texas Bureau Chief
Timestamps: 42:31 – 46:26

• State Preparedness:

  • Governor Abbott issues disaster declarations early: grid claimed to be “ready and [able to] handle this.”

• Infrastructure Limitations:

  • “We don’t have plows like you do… you have to wait” for sun and warmer temps to clear ice (42:57).
  • Ice on power lines is the “real concern” for localized blackouts; the grid’s capacity is necessary but not sufficient (43:28).

• Public Advice:

  • Stay off the roads; don’t assume big vehicles will suffice on ice.

Memorable Moment:

“The grid can be prepared to handle everything. But if you've got ice on the lines, I mean, that's a whole different animal. Those could be local outages.” – Julie Fine (43:28)

Notable Quotes

• “So much for global warming with these winters getting very much colder.” – Mike McGlone (21:20)
• “There’s no Republican or Democrat way to take out the garbage… same thing when it comes to shovel in the snow.” – Rep. Nicole Malliotakis (34:29)
• “You lose not just numbers, but you lose knowledge, you lose institutional knowledge, you lose expertise.” – Dan Criswell (13:52)
• “He is teaching every young child in New York City to hate socialists.” – Rick Davis (27:09, re: NYC Mayor Mamdani's snow day comment)
• “You can’t just fire public workers willy-nilly.” – Jeannie Shanzano (29:38)

Episode Structure & Timestamps

| Segment | Main Participants | Time | |---------------------------------------------------------|------------------------------------|--------------| | Storm Scope & TX Grid Concerns | Joe Mathieu, Josh Saul | 00:56–06:24 | | Snow Days Canceled in NYC | Mayor Mamdani, Joe Mathieu | 07:13–07:53, 24:28–25:08 | | Federal/FEMA Response Preps & Staffing Cuts | Dan Criswell, Jeannie Shanzano, Rick Davis | 07:53–17:05 | | Economic Impacts: Energy Markets | Mike McGlone, Joe Mathieu | 20:57–23:40 | | Political Panel: Local and Federal Stakes | Rick Davis, Jeannie Shanzano | 25:49–31:15 | | NY Politics & Redistricting | Rep. Nicole Malliotakis, Joe Mathieu | 33:49–40:59 | | Texas Ready or Not: State Perspective | Julie Fine, Joe Mathieu | 42:31–46:26 |

Tone & Takeaways

• Urgent and Informed: The hosts and guests speak with urgency about record risks but ground all claims in practical policy and operational realities.
• Candid and Political: The panelists and elected officials exchange sharp, sometimes humorous, remarks (e.g., about snow days and “socialists”), and the gravity of FEMA staffing cuts is not shied away from.
• Practical Advice: Listeners are repeatedly urged to prepare for potential days without power and to take storm warnings seriously.

For Listeners:
This comprehensive episode provides real-time insights into policy, infrastructure, and political decision-making as the historic winter storm looms. The discussion is policy-driven yet leavened with personality—and a frank assessment of both the federal and local government’s readiness is on full display. For those in the path of the storm, the call is clear: prepare early, stay informed, and don’t wait for government alone to keep you safe.