Wall Street Taking Closer Look at Climate Change Risks

By David Randall | November 15, 2019

  • November 15, 2019 at 1:29 pm
    craig cornell says:
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    Is this like all the Social Justice Funds that liberals loved until the returns on investment turned predictably sour?

    I love the comment about utilities in California. Anyone who lives out here knows the utilities simply got jerked around by the Lefties in Sacramento for renewable energy fantasies, and the utilities weren’t allowed the funding to clear brush near the power lines.

    But we pretend the problem is only “climate change”. Right.

    • November 15, 2019 at 1:31 pm
      Common Sense says:
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      Right craig. Jon will be along shortly to argue with you followed by Rosenblatt.

      • November 15, 2019 at 1:56 pm
        Craig Cornell says:
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        Apparently, the Marxist on Duty today is “Well” . . .

        • November 15, 2019 at 5:44 pm
          flawedlogic says:
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          Do you have anything contrary to Well’s point? Or are you just attacking someone who brought up something to discuss regarding who is truly at fault rather than your false push of blame on the “lefties”.

          Also Hi Mike/Agent/Commonsense, are you gonna go back to your old name, or are you just going to post under this new one?

          • November 20, 2019 at 4:51 pm
            Craig Cornell says:
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            See below. The Marxist Hate-the-Rich Answer doesn’t fit this time.

      • November 15, 2019 at 3:32 pm
        confused says:
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        good ole agent adding nothing to the conversation. trolls gunna troll

      • November 18, 2019 at 8:59 am
        Captain Planet says:
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        Hi Agent!

    • November 15, 2019 at 1:49 pm
      Well... says:
      Well-loved. Like or Dislike:
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      Ya it was the lefties jerking around the utility companies that have created the current situation for utility companies. Nothing to do with execs lining their pockets with big bonuses while neglecting routine maintenance.

      • November 20, 2019 at 12:57 pm
        Craig Cornell says:
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        Evidence please for your Marxist rant.

        From the Atlantic Magazine (leftist as they come):

        And despite the impulse to blame industry, the power companies aren’t entirely in control of the solution. California utility companies don’t get to decide how much line they install underground; that matter is regulated by the Public Utilities Commission, in order to “protect consumers,” “safeguard the environment,” and “assure Californians’ access to safe and reliable utility infrastructure,” according to the organization’s stated mission. The commission balances risk with cost and limits how much utility companies can spend by putting wires underground. Other improvements to the grid are being investigated, including better line insulation and technology that could anticipate line failure and shut off power in advance. But all of these solutions will be slow and costly to implement. I might get angry with utility companies, but I like to turn lights on in the dark.

        • November 20, 2019 at 3:05 pm
          Jon says:
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          Your quote doesn’t negate his point. Shift the words “utility companies” to “Public Utilities Commission” and his argument still stands.

          apnews.com/cbbdf051368e4c34b77be127bd2f423e

          As stated previously, people lining their pockets. Millions spent on lobbying. It’s pretty simple.

          • November 20, 2019 at 4:29 pm
            Craig Cornell says:
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            Evidence of same: None. Pulling it out of your pants again, Karl Marx?

          • November 21, 2019 at 10:50 am
            Jon says:
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            So no actual evidence, just vague quotes without a confirming link because it actually helps negate your argument? Maybe try again when you have some actual data to back your argument other than just referring to me as Karl Marx. You received the same email I did from Andrew, are you itching to be suspended? Stick to facts maybe.

  • November 18, 2019 at 12:12 pm
    jms says:
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    I read an article a few weeks ago that pointed out the utility company had asked their legislature to allow a rate increase destined to provide additional funds for line maintenance & were turned down. Do you think legislators might have some responsibility?

  • November 20, 2019 at 11:34 am
    Smooth says:
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    Legit question here: Are the powerlines used in CA different than those used in other states? I ask because I live in MO and although we have tens of thousands of wooded acreage, there has never been a wildfire here caused by the powerlines. We have serious droughts here in the Summer and the ground & brush are as dry as they could possibly get. It makes me wonder why it happens in CA, but I don’t hear about it elsewhere. MO does a very good job of keeping the powerlines free of debris though, so maybe that’s it? Obviously not all areas are as clear as others, but many look pretty safe. Even in our heavily wooded areas though, there are no fires started by the powerlines. Maybe CA just has too many trees on the lines?

    • November 20, 2019 at 12:59 pm
      Craig Cornell says:
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      The issue is compounded by very old power lines in need of maintenance, more funding for clearing brush around transmission towers, and lack of foresight to put lines underground along with water and sewer lines when new areas are developed.

      The utilities must get PUC approval for anything that increases rates. So, yes. Things are different in Cali.

      • November 20, 2019 at 1:19 pm
        Rosenblatt says:
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        I thank you for your on-topic reply which did not include insults, personal attacks, or other argument fallacies. Excellent post Craig. Well done (NO sarcasm intended)

        • November 20, 2019 at 4:31 pm
          Craig Cornell says:
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          You might notice that I am civil when others are civil. When others play games, I play games.

          • November 21, 2019 at 9:18 am
            Captain Planet says:
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            FEBRUARY 5, 2019 AT 2:54 PM
            Craig Cornell says:
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            You are such a partisan hack, making foolish comments almost exclusively:

            JANUARY 21, 2019 AT 2:05 PM
            Craig Cornell says:
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            Says the guy who has nothing interesting to say, ever.

            NOVEMBER 6, 2018 AT 4:19 PM
            Craig Cornell says:
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            Put down the bong and try again. . .
            MARCH 14, 2018 AT 6:22 PM
            Craig Cornell says:
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            While trying to teach a fish to do math is pointless . . .

            I know this is getting pretty heady for you, but give thinking a try . . .

            NOVEMBER 12, 2018 AT 4:34 PM
            craig cornell says:
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            You are such a boring partisan.
            Reply

            MARCH 21, 2018 AT 4:20 PM
            Craig Cornell says:
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            Keep on making us laugh . . . or look in the mirror and do it for yourself.
            Clown.

            MARCH 19, 2018 AT 9:04 PM
            Craig Cornell says:
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            If you think people are going to start eating more kale yogurt because of kiosks, you probably don’t think very often.

            APRIL 4, 2018 AT 2:04 PM
            Craig Cornell says:
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            Did you even read the article? Geez, maybe you bong suckers can’t even read anymore.

            APRIL 19, 2018 AT 2:53 PM
            Craig Cornell says:
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            And my point is confirmed by confused! Thanks, third grader!

            MAY 18, 2018 AT 11:41 AM
            Craig Cornell says:
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            Cut the Bias: man, you are one blabby dude. Hard to even read all that nonsense.

            MAY 19, 2018 AT 1:39 PM
            Craig Cornell says:
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            Man, you are a lot of work to get to a point.
            (Please, no more boring stories. I don’t have time.)

            JUNE 7, 2018 AT 4:25 PM
            Craig Cornell says:
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            Try not embarrassing yourself in writing.
            Reply

            JUNE 21, 2018 AT 3:13 PM
            Craig Cornell says:
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            Right. Now that’s a leap of logic only a pothead could make . . .

            FEBRUARY 21, 2019 AT 7:17 PM
            Craig Cornell says:
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            Oh, thanks Captain Jesus, for offering a fair insight into the Dark World that only you can see.

            MARCH 11, 2019 AT 6:44 PM
            Craig Cornell says:
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            real: Captain Planet is a well-known partisan hack, a dishonest person, a clown.

            MARCH 20, 2019 AT 12:37 PM
            Craig Cornell says:
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            Partisan . . . Hack. Do you even realize how boring you are? How predictable and lacking in any interesting thoughts? Anything even remotely amusing? So full of hate, Mr. Christian. Sad.

            MAY 23, 2018 AT 11:41 AM
            Craig Cornell says:
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            Boring. No insights whatsoever. Just Boring.
            You must not be very smart. Sorry. (Have you heard of MIT?)

            FEBRUARY 6, 2019 AT 11:22 AM
            Craig Cornell says:
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            You see? Civility requires two dance partners. Try it for once.

          • November 21, 2019 at 1:26 pm
            Rosenblatt says:
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            Your last statement is demonstrably false, Craig. Except for a couple of exchanges, you have continued to be nothing but nasty and insulting to me even though I have been civil to you for well over a month.

          • November 21, 2019 at 1:28 pm
            Jon says:
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            Craig and I both received a very strongly worded letter from IJ instructing us to play nice or we would be suspended, final warning style. I am trying very carefully to remain civil, but you can be sure I’m going to document any time he is not. I personally don’t consider calling someone “Karl Marx” in a condescending manner to be civil but that’s just me. We’ll see how long it holds.

          • November 21, 2019 at 1:40 pm
            Andrew G. Simpson says:
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            What you continually fail to recognize is that part of the problem is you two addressing each other as if this is your personal space rather than addressing the topic in a forum of insurance professionals. We do not need or want your condescending or other opinions of each other. Stick to the topic. Maybe you and Craig should have a beer together and get to know one another. But keep your personal banter out of the forum. Ask yourself if the posting you are about to make is something you would say at your work, with colleagues or clients. Is it how you would address a fellow insurance professional? Is it something you would post on LinkedIn, RIMS, CPCU or other industry site and have associated with you professionally?

      • November 20, 2019 at 2:12 pm
        Smooth says:
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        What is PUC? Do people vote in CA on what PG&E does or is the PUC the organization in charge of them?

        I don’t think I’ve ever seen our state not give the Electric Company rate raises when they asked for maintenance reasons. It’s very infrequently that they ask though.

        • November 20, 2019 at 4:35 pm
          Craig Cornell says:
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          Utilities are semi-private in California, reporting to the PUC. But the PUC is run by Democrats, who run everything in California. Over the years, the Democrats had the utilities raise rates to fund lots of renewable energy options, like subsidizing roof top solar for homeowners (which isn’t competitive without subsidies).

          Then the PUC was reluctant to raise rates further for maintenance or brush clearing, and so the requests for same were limited to a fraction of what the utilities said they needed.

          That’s how we ended up with the only option being to shut off the lights when the winds pick up. (Not to mention the electric pumps to rural wells that could be used to fight fires. Some people lost their houses in not-so-rural areas recently for just that reason.)

          • November 21, 2019 at 8:48 am
            Smooth says:
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            Wow. That sounds like a horrible way to run Utility companies. MO is a pretty heavy Democrat state, but it doesn’t sound like the Utilities are run anything like they are in CA.

            Most of the brush clearing with our Electric Company is done by a third party via a bidding process. Actually, much of the Midwest is done like this. It keeps the brush off the lines, but also keeps the costs down. It helps with productivity as well. The folks from the Electric Co. are Union and will only do so much per day. The companies contracting with our Utilities are non-union and can clear a large area in a week. Our local newspaper did a story a while back on why our Utilities are cheap compared to many other states and it was mostly because of the preventive maintenance they do and the bidding for the extra work. As for the preventive maintenance, their thought seems logical; Pay a little now or a ton later.

          • November 21, 2019 at 10:53 am
            Jon says:
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            This answer simplifies to an almost criminal level. He’s hitting brush strokes on the things that help make an anti-democrat case while ignoring the many intricacies of running utilities in a state overrun by brush, with a mostly desert climate, where most of the power lines were run decades and decades ago. You’ve been shut down previously on arguing about the state not putting their powerlines underground on previous articles.

          • November 21, 2019 at 10:54 am
            Captain Planet says:
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            Craig wrote, “But the PUC is run by Democrats, who run everything in California.”

            Certainly, CA isn’t the only democratic run deciduous state. I just don’t buy politics has anything to do with it.

          • November 21, 2019 at 1:20 pm
            craig cornell says:
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            Well, let’ see. I live here, read two newspapers a day, follow the fire issue closely and can back up my statements with links to news reports from the LA Times and others.

            You just speculate. Have no idea. Don’t know anything about how the energy game has been played in California. But have an ill-informed opinion none the less.

            Captain Planet: same as always.

          • November 21, 2019 at 1:23 pm
            Rosenblatt says:
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            “PG&E said its 2017 net profit was … $1.65 billion” Why can’t PG&E use some of that profit for maintenance? Why do they have to wait for the state to approve a rate increase to have money for proper maintenance?

          • November 21, 2019 at 1:39 pm
            Craig Cornell says:
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            This is how it works: EVERYTHING is subject to approval by the California PUC, including profits and how those profits are spent.

            If you read about the issue, you will see that maintenance and brush clearing costs are enormous. In Northern California alone they cost almost $100 million dollars every year, not to mention the costs to fight all the environmentalist legal challenges (protecting trees, habitat, etc.) And remember, that is much lower than the utilities want to spend; hence, shutting off the power in high winds.

            Also, people invest in the utilities and expect a return. Do the math: the returns aren’t much. If you want people to stop investing in the future, use all the profits for operations.

            The history is clear: the PUC directed the utilities to spend money on renewables and the PUC rejected the requests from utilities for all the money they wanted for maintenance and brush clearance; it would have required raising rates.

  • November 21, 2019 at 11:28 am
    Captain Planet says:
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    Craig wrote, “You might notice that I am civil when others are civil. When others play games, I play games.”

    But:

    NOVEMBER 20, 2019 AT 3:05 PM
    Jon says:
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    Your quote doesn’t negate his point. Shift the words “utility companies” to “Public Utilities Commission” and his argument still stands.

    apnews.com/cbbdf051368e4c34b77be127bd2f423e

    As stated previously, people lining their pockets. Millions spent on lobbying. It’s pretty simple.

    Reply
    NOVEMBER 20, 2019 AT 4:29 PM
    Craig Cornell says:
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    Evidence of same: None. Pulling it out of your pants again, Karl Marx?

    • November 21, 2019 at 6:17 pm
      Craig Cornell says:
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      Truly. Have a little pride in your intelligence. A utility company is NOT the PUC. The utility company reports to the PUC. Jon was trying his “blame the rich for everything” trick when the reality has nothing to do with “executives lining their pockets”. The comment is just lame.

      It is such a dumb comment to equate the two that you must have seen the falsehood in Jon’s statement. Didn’t you? Didn’t you?

      • November 21, 2019 at 6:45 pm
        Jon says:
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        So we’re just going for the suspension then? I mean it’s kind of worth it in my eyes if it gets your garbage off this board.



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