In Changing Oil, WRI economists Duncan Austin and Amanda Sauer examine the extent to which environmental risks could affect the stock prices of leading oil and gas companies. The financial impact of two issues are analyzed in detail -- future policies to mitigate global climate change ("global warming") and restricted access to reserves in environmentally sensitive areas. The report finds that some companies could lose up to six percent of their shareholder value as a result of these two issues and that most companies fail to disclose these risks to investors in their financial reports.

July 2002 / 40 pages

Executive Summary PDF

Changing Oil ISBN 1-56973-511-5$18.00