Current:Home > FinanceNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -CapitalCourse
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-17 15:10:01
TRENTON, N.J. (AP) — It’s not an accident that “The Sopranos,” the quintessential show about New Jersey, opens with its main character driving past gasoline and oil storage tanks along the New Jersey Turnpike.
From the outskirts of New York to the Delaware River shoreline across from Philadelphia, New Jersey is home to numerous oil and natural gas facilities.
Those facilities would be charged fees to help the state fight the effects of climate change under a bill being considered in the state Legislature.
The measure, to be discussed Thursday in a state Senate committee, aims to create a Climate Superfund similar to the pot of money assembled by the federal government to clean up toxic waste by charging petroleum and chemical companies an extra tax to fund ongoing cleanups.
It’s a tactic being used or considered in numerous other states, including Vermont, which recently enacted such a law. New York, Maryland, Massachusetts and California are among states considering doing likewise.
“It’s more important than ever that Gov. Murphy and state legislators protect New Jersey taxpayers and the health of our communities by making polluters pay to repair, upgrade and harden our critical infrastructure from climate-driven damage,” said Matt Smith, New Jersey Director of the nonprofit Food & Water Watch.
New Jersey’s business lobby is already working against the bill. Ray Cantor, an official with the New Jersey Business and Industry Association, said the bill will accomplish nothing beyond raising the cost of gasoline for motorists, and gas and oil for home heating customers.
“There are many things wrong with the bill, beyond the fact that it seeks to impose a retroactive liability on companies that were providing a legal, necessary and vital product to the citizens of the state,” he said. “It’s unconstitutionally vague in assessments of costs, and will likely be preempted by federal law. It will do nothing to reduce greenhouse gas emissions or impact climate change.”
His criticism echoed that voiced by the oil and gas industries when Vermont’s bill became law in May.
The New Jersey bill “would establish that certain fossil fuel companies are liable for certain damages caused to the state and its residents by the harmful effects of climate change.”
The burning of fossil fuels including oil, gas and coal is a major contributor to climate change.
The proposal would impose as yet unspecified charges on fossil fuel producers that would go to the state Department of Environmental Protection, which would distribute the money as grants to pay for programs to adapt to climate change and make the state more resilient to severe weather.
The state would take two years to assess damages to New Jersey that have resulted from greenhouse gas emissions from the burning of fossil fuels since 1995, and would establish “that each responsible party is strictly liable” for those damages.
___
Follow Wayne Parry on X at www.twitter.com/WayneParryAC
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (81)
Related
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- Travis Barker Returns to Blink-182 Tour After Pregnant Kourtney Kardashian's Emergency Surgery
- Authorities search for grizzly bear that mauled a Montana hunter
- Affirmative action wars hit the workplace: Conservatives target 'woke' DEI programs
- See you latte: Starbucks plans to cut 30% of its menu
- G20 leaders pay their respects at a Gandhi memorial on the final day of the summit in India
- Stassi Schroeder Gives Birth, Welcomes Baby No. 2 With Beau Clark
- G20 leaders pay their respects at a Gandhi memorial on the final day of the summit in India
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- Gunmen attack vehicles at border crossing into north Mexico, wounding 9, including some Americans
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Climate protesters have blocked a Dutch highway to demand an end to big subsidies for fossil fuels
- Tough day for Notre Dame, Colorado? Bold predictions for college football's Week 2
- Michigan State U trustees ban people with concealed gun licenses from bringing them to campus
- DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
- Special election in western Pennsylvania to determine if Democrats or GOP take control of the House
- Evacuation now underway for American trapped 3,400 feet underground in cave
- From leaf crisps to pudding, India’s ‘super food’ millet finds its way onto the G20 dinner menu
Recommendation
Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
Missouri constitutional amendment would ban local gun laws, limit minors’ access to firearms
Police fatally shoot man who was holding handgun in Idaho field
Italy’s Meloni meets with China’s Li as Italy’s continued participation in ‘Belt and Road’ in doubt
The Louvre will be renovated and the 'Mona Lisa' will have her own room
The US Supreme Court took away abortion rights. Mexico's high court just did the opposite.
Making of Colts QB Anthony Richardson: Chasing Tebow, idolizing Tom Brady, fighting fires
Authorities search for grizzly bear that mauled a Montana hunter