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ARTICLE · 12 MARCH 2019

Opportunity Is Knocking: Bringing Hydrogen Into The Mix

Climate change risks are also specifically hitting home for energy sector players.

CanadaEnergy and Natural Resources

A growing body of evidence indicates that more frequent extreme weather events are linked to climate change, and these disruptions have become a key issue for both government and business leaders. While fossil fuels remain the dominant source of global energy, many governments are increasingly addressing the risks of climate change and seeking ways to de-carbonize their energy supply.

Climate change risks are also specifically hitting home for energy sector players. Hurricanes, made more powerful by rising ocean temperatures, have recently wreaked havoc on oil and gas production. In October, Hurricane Michael forced operators in the United States Gulf of Mexico to shut down approximately 40% of crude production and almost 30% of natural gas output, and in August 2017, Hurricane Harvey halted about one-quarter of oil production. Operations in the North Sea were likewise interrupted in 2013 by Cyclone Xaver, which pounded parts of Europe. 

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