Wall Street embraces weather risk in new era of storms

Hurricane Harvey, NASA, Hundson River, Jersey City, NJ Environment News

BRIAN K. SULLIVAN, ALEXANDRA SEMENOVA, and ERIC ROSTON / BLOOMBERG – Every uptick in wind speed along the Gulf of Mexico shoreline is of enormous interest to Mike Eilts.

Eilts, senior vice president for weather at DTN, a Minnesota-based analytics firm, knows that an unexpected cold front in Louisiana, nudged southward by a jet stream unsettled by global warming, can push rising winds into the Gulf, putting dozens of floating oil rigs at risk.

The rigs can withstand hurricane-force winds of 80 miles per hour if they have time to turn to face the tempest. But if they’re hit from the side, their pipes can be severed with just a bit more than a 35-mile per hour breeze …

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