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Politics : The Environmentalist Thread

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From: Ron	3/2/2007 4:39:59 PM
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Big Oil Warned by Insurer, Alternative Energy and Global Warming a Threat Don't fear terrorists or a pipeline rupture, be wary of the guy making biodiesel in his garage. That was the advice of Brian Storms, CEO of Marsh, one of the world's largest insurance companies, to oil companies. “The world’s desire for environmentally-friendly energy sources appears to be rising faster than global temperatures. This is a growing risk to all energy producers – one that goes well beyond a fire at a plant, or a tanker that runs aground." Marsh was speaking at an oil conference in oil-friendly Dubai (not to be confused with oil-friendly Dubya) and advised petroleum producers that rather than fighting against the rising tide of alternative fuels, "risks and potential liabilities can be turned into a competitive advantage over those companies that don't move to address them." Storms also warned that global warming is a threat to oil companies with operations that would be effected by thawing ice, such as those who operate in the arctic. Talk about being hoisted on one's own petard.... According to Inside Greentech, one Marsh exec said the combination of global warming and the rise of renewable energy sources made for a risky time for all traditional energy companies. Those poor guys at ExxonMobil, they must have trouble sleeping at night. blog.wired.com insidegreentech.com

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