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Michael Bloomberg: PG&E Bankruptcy A Wake-up Call on Financial Risks of Climate Change

February 11, 2019 |

Frank Schulenburg [CC BY-SA 4.0 (], from Wikimedia Commons

This article was originally published on the Los Angeles Times.

“During the bitter cold snap that hit much of the United States last week, President Trump tweeted a plea to global warming: “Please come back fast, we need you!” The next morning, the largest electricity provider in America’s most populous state filed for bankruptcy because of global warming.

If the president’s cluelessness doesn’t ring alarm bells in statehouses and boardrooms around the country, the bankruptcy of Pacific Gas & Electric should. According to the company, it could no longer afford the increasing liability costs of wildfires fueled by the hotter, drier weather that climate change is bringing to California.

Fifteen of the 20 largest wildfires in the state’s history have happened since 2000, damaging homes and businesses and claiming lives. PG&E is the largest company to go belly up because of the damage from fires…”

Read on at: Los Angeles Times.

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