Exxon, Chevron Focus on Oil Projects in the Americas
The two largest U.S. oil companies are pulling back on big international oil projects and concentrating on a handful of more lucrative assets closer to home.
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In the first moments of the Maui fires, when high winds brought down power poles, slapping electrified wires to the dry grass below, there was a reason the flames erupted all at once in long, neat rows -- those wires were bare, uninsulated metal that could spark on contact.
Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
While the exact cause of the wildfire remains unknown, Hawaiian Electric is not the first electric company to find itself facing potential liability in the aftermath of climate-related disasters.
Power companies are grappling with the need for "trillions of dollars" worth of grid investment.