SoylentNews is people
SoylentNews
California utility company PG&E Corp is exploring filing some or all of its business for bankruptcy protection as it faces billions of dollars in liabilities related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.
The company is considering the move as a contingency, in part because it could soon take a significant financial charge for the fourth quarter of 2018 related to liabilities from the blazes, the sources said.
A bankruptcy filing is not certain, the sources said. The company could receive financial help through legislation that would let it pass on to customers costs associated with fire liabilities, the sources said. But that is just a possibility, they said, so bankruptcy preparations are being made.
(Score: 2) by Phoenix666 on Tuesday January 08 2019, @06:54AM
Greenies in the inter-mountain West, at least, have always understood that part. Forest fires are a natural process, and you can let them burn like crazy with a hands-off approach, or try to minimize their extent with controlled burns and other measures.
It's the greenies on the East Coast or the Californian Coast who queer the conversation on it. People on the East Coast hear "forest" and think the juicy deciduous trees with rich foliage and suppose that if such trees can go up in flames, it must be because man screwed up somehow and either through mismanagement or anthropogenic climate change are destroying the Earth. They have no clue how inflammable Western coniferous forests can become in the dry heat of the summer, how resinous pines and spruces just love to go up like flares when put to flame. Californians are better than the Easterners on that score, but only a little thanks to regional migration from other parts of the West where greenies do understand the issues.
Washington DC delenda est.