About 40% of the world’s recoverable oil and gas reserves could be vulnerable to wild weather fueled by climate change, UK consultancy Verisk Maplecroft warned Thursday. Major reserves in Saudi Arabia (​​extreme heat, water shortages and dust), Iraq and Nigeria (droughts and flooding) among the most vulnerable, but refining capacity along the U.S. Gulf Coast is also at risk of being knocked offline by storms like Hurricane Ida. “These types of events are going to become more frequent and more extreme, creating even greater shocks within the industry,” Rory Clisby, environmental analyst at Verisk Maplecroft, told Reuters. (Reuters; Climate Signals background: Extreme heat and heatwaves, Drought, Flooding, Hurricanes)