T. Boone Pickens made headlines in 2008 with his “Pickens Plan” for American energy independence. The plan, which consisted of a combination of wind farms and greater use of natural gas, was unveiled as crude oil prices reached an all time peak. At the time, natural gas prices were also reaching record highs. Both crude oil and natural gas prices plummeted as the severity of the recession became apparent. Read this article for details on Mr. Pickens’ plan.
The National Association of Insurance Commissioners voted to require insurance companies to disclose the impact of climate change on their businesses. This action taken on March 17 will compel insurance companies to fully disclose the impact of forecasted climate change along with their actions to manage the risks. Read this article for more details.