The last century has seen our society make incredible strides with respect to technology, but for all our advances, we as a society are still at the mercy of Mother Nature. In testimony before Congress, former Commerce Secretary William Daley stated in 1998 that “[w]eather is not just an environmental issue; it is a major economic factor. At least $1 trillion of our economy is weather-sensitive.” According to the National Oceanic and Atmospheric Administration (NOAA), the fourteen top extreme weather-related events in 2011 cost the U.S. economy more than $55 billion. “Billion-dollar disasters of 2011.”
October 01, 2012
The Ins and Outs of Fair “Weather Clauses” in Power Project Contracts
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