Correlations: Oil & Gas vs. Wind & Water
A quarter of the U.S.’s offshore oil production, a third of its natural gas processors, and 40 percent of its oil refining capacity are spread across the Texas-Louisiana-Mississippi coast. This dense infrastructure of rigs, pipelines, and refineries is worth $850 billion. It lies squarely in the path of hurricanes—whose number and intensity are boosted by climate change—and close enough to shore to be inundated by rising seas. Consulting firm Entergy estimates that climate-related damage to these structures could reach $18 billion annually by 2030.