November 27, 2012
Why Aren't Oil Companies Ready for the Worst?
Steve LeVine, Quartz
When the world came down around New York last month, Mayor Michael Bloomberg famously said that climate change might not be the root cause of the devastation, but that he wasn’t prepared to risk waiting for further evidence. So it stands to reason that oil companies, who are exposed in all sorts of ways to the effects (both positive and negative) of extreme weather, and run their investments in three- and four-decade cycles, would by now be planning for more frequent natural calamities, right?
Apparently not. Such plans are not cited in long-term outlooks published by
TAGGED: Climate Change, Oil