Insurers face new minefield in climate activists’ war on oil and gas industry

Already in California, Allstate, one of the U.S.’s largest insurance companies, just joined State Farm in stopping the sale of property and casualty coverage to new customers in the state, saying it’s too costly after literally thousands of natural disasters over the last several years, high costs for housing and general inflation. Allstate also just recently requested a 40% homeowners insurance increase from the California Department of Insurance in April.

When it comes to not insuring liquid natural gas terminals, industry officials defend natural gas for driving down greenhouse gas emissions as a cleaner fuel. And the Biden White House pushed LNG exports after Russia invaded Ukraine, seeking to help Europe get itself off of Russian energy. The tanker Sun Arrows loads its cargo of liquefied natural gas from the Sakhalin-2 project in the port of Prigorodnoye, Russia, on Oct. 29, 2021.

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