Well you found it on the internet so it must be true! You're so smart Ricky.
Climate and Weather
- Thread starter espola
- Start date
Well you found it on the internet so it must be true! You're so smart Ricky.
Wez
DA
I've seen 403 pages of what you post...
I do ok with the simple tool box God gave me.
Thank you.
Do you have a point... or is all this build up just going to lead to another cut an paste?
Lets see how smart you are.
What do you think would be the point?
Wez
DA
Relevance to you posting nonsense?
Wez
DA
It's not a relevant data point and says nothing about 403 pages of bullshit and lies posted here.
Like I've got shit to do today, but part of me feels like I'm owed the joy of watching you guys melt down before me eyes as you come to realize that Trump scammed you guys and is going to hand the democrats control of the government...
I tried to warn you Ricky.
Nice of you to try to include Lambchops in an adult conversation....
Im a giver.
You don't know the difference between Cow Farts and Car Parts......
Here's Jerry's AQMD solution......
Bruddah IZ
DA
I am writing this section because we have a proxy proposal regarding climate change to consider at this year’s annual meeting. The sponsor would like us to provide a report on the dangers that this change might present to our insurance operation and explain how we are responding to these threats.
It seems highly likely to me that climate change poses a major problem for the planet. I say “highly likely” rather than “certain” because I have no scientific aptitude and remember well the dire predictions of most “experts” about Y2K. It would be foolish, however, for me or anyone to demand 100% proof of huge forthcoming damage to the world if that outcome seemed at all possible and if prompt action had even a small chance of thwarting the danger.
This issue bears a similarity to Pascal’s Wager on the Existence of God. Pascal, it may be recalled, argued that if there were only a tiny probability that God truly existed, it made sense to behave as if He did because the rewards could be infinite whereas the lack of belief risked eternal misery. Likewise, if there is only a 1% chance the planet is heading toward a truly major disaster and delay means passing a point of no return, inaction now is foolhardy. Call this Noah’s Law: If an ark may be essential for survival, begin building it today, no matter how cloudless the skies appear.
It’s understandable that the sponsor of the proxy proposal believes Berkshire is especially threatened by climate change because we are a huge insurer, covering all sorts of risks. The sponsor may worry that property losses will skyrocket because of weather changes. And such worries might, in fact, be warranted if we wrote ten- or twenty-year policies at fixed prices. But insurance policies are customarily written for one year and repriced annually to reflect changing exposures. Increased possibilities of loss translate promptly into increased premiums.
Think back to 1951 when I first became enthused about GEICO. The company’s average loss-per-policy was then about $30 annually. Imagine your reaction if I had predicted then that in 2015 the loss costs would increase to about $1,000 per policy. Wouldn’t such skyrocketing losses prove disastrous, you might ask? Well, no.
Over the years, inflation has caused a huge increase in the cost of repairing both the cars and the humans involved in accidents. But these increased costs have been promptly matched by increased premiums. So, paradoxically, the upward march in loss costs has made insurance companies far more valuable. If costs had remained unchanged, Berkshire would now own an auto insurer doing $600 million of business annually rather than one doing $23 billion.
Up to now, climate change has not produced more frequent nor more costly hurricanes nor other weather- related events covered by insurance. As a consequence, U.S. super-cat rates have fallen steadily in recent years, which is why we have backed away from that business. If super-cats become costlier and more frequent, the likely – though far from certain – effect on Berkshire’s insurance business would be to make it larger and more profitable.
As a citizen, you may understandably find climate change keeping you up nights. As a homeowner in a low-lying area, you may wish to consider moving. But when you are thinking only as a shareholder of a major insurer, climate change should not be on your list of worries.
Berkshire Hathaway Shareholder Meeting
February 27, 2016
Warren E. Buffett Chairman of the Board
Bruddah IZ
DA
Don't worry. Just cling to the 97% consensus and It'll all be good.
Hüsker Dü
DA
Pretty much the story behind every right-wing nutter argument they have.
Wez
DA
We don't have to cling to anything. When the majority of the Phds in Science say something is likely, we simply listen and act accordingly. It's idiots like you who prefer to think they're smarter then our Scientific community.