Examining the federal insurance office rstreet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rstreet.org Daily Mail and Mail on Sunday newspapers.
Tue 4 May 2021 06.00 EDT
Last modified on Tue 4 May 2021 08.37 EDT
Nestled in the harbors of Vancouver, the Tsleil-Waututh Nation has lived for thousands of years within an inlet set against the mountain views of the Pacific north-west.
But across the water from Tsleil-Waututh Nationâs reserve, less than 2km away, or a little over a mile, is a jarring juxtaposition: an industrial terminal for the large Trans Mountain oil pipeline.
Oil tankers have frequented the terminal weekly for years, and now it is being enlarged so Trans Mountain can triple the amount of oil it transports from the landlocked oil sands of Alberta to the west coast. Traffic will increase by sevenfold â bringing in up to 34 giant oil tankers a month and three barges, the Canadian government-owned company has forecasted.
Why won t this giant oil pipeline reveal its secret backers? msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
LEAD STORY
In a draft executive order, President Joe Biden would direct federal agencies to take sweeping action to combat climate-related financial risks to government and the economy, including moves that could impose new regulations on businesses, including banking and insurance.
FALL ON ME
The draft order singles out and directs the Federal Insurance Office (FIO) to assess climate-related issues in its oversight of insurers. It asks the FIO to work with state regulators to examine the potential for “major disruptions” of private insurance coverage in regions of the country that are particularly vulnerable to climate change. It also directs Treasury Secretary Janet Yellen, as head of the Financial Stability Oversight Council, to assess risks to the financial system and the U.S. itself and deliver a report within 180 days. President Biden is hosting an international climate summit April 22-23.