“There would be much more violent weather – more storms, more droughts, more deluges.”
That prophecy isn’t from the Book of Revelation, but from a confidential 1989 Shell Oil memo the company commissioned to better understand what global warming could mean for their business in the decades to come.
Today, the sentence reads like a daily weather report. In the last few weeks, we’ve seen the devastation wrought by Hurricane Helene, a “deluge” that wiped out entire towns and sent homes and semi-trucks spiraling down rivers of mud, and now Hurricane Milton, one of the strongest hurricanes ever recorded. In Nepal, extreme flooding there has claimed over more than 200 lives and left parts of the capitol underwater. Meanwhile, the Amazon is facing its “worst drought on record,” further endangering what scientists have referred to as the “lungs of the world.”
“Civilisation could prove a fragile thing,” wrote the authors of the 1989 Shell memo. Indeed. As we’ve seen over the last few months, even supposed climate havens, like Asheville, NC, have been undone by extreme weather. We’ve entered an age where our civilization, no matter where we live, will likely be in need of constant upkeep and repair in the face of ever worsening climate disasters. Rebuilding our communities, and strengthening them for the challenges ahead, will be an ongoing struggle for generations to come.
For more than 70 years the fossil fuel industry has continued to rake in profits without paying a single dollar for the damage they knew their product was causing to our climate and communities.
Which raises the question: how are we going to pay for all of this? Early estimates put the damage of Hurricane Helene at over $200 billion and Hurricane Milton at $175 billion, astronomical figures that still can’t begin to calculate the cost of the lives lost and communities upended. That’s on top of the more than $150 billion a year the US government estimates Americans are already paying for extreme weather events. And that’s a low end estimate. According to a study released earlier this year in Nature concluded that the cost of climate damages to the global economy could reach $38 trillion a year by 2050.
Right now, those costs are coming out of one place in particular: our pockets. Even if your home hasn’t been washed away by a flood, you’re likely paying more for your home insurance due to others that have. Even if your farm hasn’t been wrecked by drought, you’re now paying more for your groceries at the supermarket. The dollars your town had set aside for a new school? They’re now being spent to rebuild roads or repair a bridge that got wiped out by yet another “100-year” flood.
Faced with these ever mounting costs, some local leaders are turning to a different solution: making polluters pay their fair share for the damage they’ve done. After all, that 1989 Shell memo isn’t the only example that fossil fuel companies knew exactly the consequences of the ongoing use of their product. As early as the 1950s, oil and gas companies knew about the dangers of global warming, but instead of warning the public and moving to clean energy, they went on to spread lies and disinformation to protect their profits.
Put another way, for more than 70 years the fossil fuel industry has continued to rake in profits without paying a single dollar for the damage they knew their product was causing to our climate and communities. Instead, they’ve very intentionally “externalized” those costs onto the rest of us, not only in the form of climate impacts, but in terms of our health, local environments, and more.
Now the bill is coming due. This May, Vermont became the first state in the country to pass a Climate Superfund Act that will make oil and gas companies pay into a fund that can be used for climate adaptation and disaster response. Five other states are debating similar legislation, including in New York, where legislators passed a climate superfund bill in June and are now waiting on Governor Kathy Hochul’s signature (last week, activists delivered more than 127,000 signatures to the Governor’s office demanding she stop dragging her feet and sign the bill into law). In September, Senator Van Hollen and Representative Jerry Nadler introduced a federal Climate Superfund bill that would collect $1 trillion from oil and gas companies to be used for relief and resiliency efforts nationwide.
The push for state and federal climate superfund bills is running in parallel to the now dozens of city, state, county, and Tribal governments who have filed lawsuits against the fossil fuel industry for climate lies and damages. These lawsuits could recoup even more money from oil and gas companies for damages, as well as uncover yet more evidence of their ongoing fraud and deception. In addition to these civil cases, some experts and attorneys are now proposing bringing criminal charges against oil companies for the “wrongful deaths” associated with extreme weather events (expect to hear more about climate homicide in the months ahead).
The devastation caused by Hurricanes Helene and Milton, and similar climate disasters around the world, demands more of a response than the “thoughts and prayers” offered by politicians still in the pocket of Big Oil. Recent polling shows that 70% of US voters support making oil and gas companies pay their fair share for climate damages. It’s time for our leaders to answer that call and make polluters pay.
