The article discusses the impact of the recent devastating wildfires in Los Angeles, attributing much of the devastation to climate change and the actions of major oil and gas companies. With billions in damages and costs threatening homeowners and insurers alike, there's an urgent need to hold those companies accountable for their role in exacerbating climate conditions. Despite internal warnings dating back to the 1970s, these companies have obscured the risks associated with fossil fuels, leading to disastrous consequences for communities affected by wildfires. A call for regulatory action is emphasized as essential for addressing the escalating insurance crisis in California.
Major oil and gas companies have known for decades that burning their products could lead to potentially catastrophic events, including the devastating wildfires now plaguing California.
Private insurance companies cannot continue to provide coverage at anything approaching affordable rates in the face of increasing climate-driven disasters; regulatory action is essential.
We should require these highly profitable companies to compensate communities, homeowners, businesses, and even insurers for the losses resulting from climate-related disasters.
Despite public pledges to transition away from fossil fuels, major oil companies have been privately working to sustain production, misleading the public and policymakers.
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