Environment & Energy

In the 80s and 90s the rhetorical battle over Climate Change or Global Warming was waged between the oil industry and the insurance industry. These were the 2 major players who had most at stake in the policy decisions that could have been implemented. Sorry, scientists were largely support players in this battle.

In the end, the oil companies won. The insurance industry really had less to loose. Yes, they are still exposed to increased losses due to extremes in the weather due to increased greenhouse gas levels but they found a new home for their expertise; managing all the wealth that has been generated over the last few decades from the growing social media and tech universes. They don't need the aggravation of insuring properties that are exposed to the effects of greenhouse gas increases.

In truth, the political parties will make sure they rob Peter to pay Paul instead of letting the unfettered insurance market correct for these changes. You want to build or live in flood prone areas or fire prone areas? So be it, find a bank who'll back your mortgage without state or federal subsidized insurance.

In the long run, this planet is going to change. Whether we and our civilization can adapt fast enough or even start down a different path that is much less dependent on petroleum and/or natural gas is another matter. In truth, the climate record shows Earth has gone through much warmer periods than we have experienced now and some form of life always managed to survive.