Last week, California Insurance Commissioner Dave Jones launched the latest salvo in his relentless crusade to coerce the nation’s leading insurance companies to divest from oil and natural gas company holdings.
A duo of strong storms that swept through the United States has temporarily disrupted domestic fuel markets, but effective responses by the private and public sectors have limited the fallout from Hurricanes Harvey and Irma for Americans who need fuel critical for commerce.
Fuel supply restrictions resulting from hurricanes and other natural disasters, often lead to price increases as the market reacts to rebalance supply and demand. To protect consumers, many states have enacted price gouging laws that limit a merchant’s ability to raise prices during an emergency.
We understand the threat that weather events can pose. Our nation’s refiners and petrochemical manufacturers have developed robust preparedness measures that can be taken in the event of a hurricane or extreme weather event.