A recent wave of government climate change lawsuits against oil and gas firms may prove deeply harmful, actually inhibiting the growth of new, greener technologies by diverting resources that would otherwise fuel innovation, according to a May 16 issue brief from the Pacific Research Institute (PRI).
“There are many serious adverse consequences from state and local litigation against traditional energy companies, but no societal upsides should the plaintiffs in these cases prevail,” economist Wayne Winegarden asserted in the brief.
