Polar Bear Lawsuit #1
Sixty days from now environmental activists will bring the first lawsuit that attempts to delay oil and gas drilling because the U.S. Fish & Wildlife Service has not conducted a “Section 7” consultation over the impact of the drilling on the polar bear.
Every industry group in America should know the bell is tolling for them, and hopefully some will seek to intervene in the lawsuit.
If the activists win, the supply of oil will be further constrained and the price of gas will go higher.
And if they win up north, the same analysis will apply in the lower 48 for all activities emitting greenhouse gases.