Industry should address climate change, IEA economist says

06/16/2013 | FuelFix.com

The oil and natural gas industry shouldn't ignore climate change, as it is a serious financial threat, said Fatih Birol, the International Energy Agency's chief economist. Global warming will lead to more storms, floods and cyclones, he said. "And this will affect the infrastructure of energy companies -- we think especially for the offshore oil and gas production, in the North Sea, Western Australia, the Gulf of Mexico," Birol said.

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