Current:Home > ScamsNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -NextFrontier Finance
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-15 04:08:57
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! (84898)
Related
- Jay Kanter, veteran Hollywood producer and Marlon Brando agent, dies at 97: Reports
- Ex boyfriend arrested in case of Crystal Rogers, Kentucky mom who disappeared in 2015
- Nashawn Breedlove, rapper who played Lotto in Eminem's film debut '8 Mile,' dies at 46
- Authorities make arrests in the case of Kentucky woman reported missing 8 years ago
- Kourtney Kardashian Cradles 9-Month-Old Son Rocky in New Photo
- Giant panda Fan Xing leaves a Dutch zoo for her home country China
- Mandela’s granddaughter Zoleka dies at 43. Her life was full of tragedy but she embraced his legacy
- Rabid otter bites Florida man 41 times while he was feeding birds
- Rylee Arnold Shares a Long
- Trudeau apologizes for recognition of Nazi unit war veteran in Canadian Parliament
Ranking
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Climate change and the shift to cleaner energy push Southeast Asia to finally start sharing power
- Germany increases border patrols along migrant ‘smuggling routes’ to Poland and Czech Republic
- Rabid otter bites Florida man 41 times while he was feeding birds
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Zoologist Adam Britton, accused of torturing animals, pleads guilty to beastiality and child abuse charges
- Auto workers union to announce plans on Friday to expand strike in contract dispute with companies
- Parole has been denied again for a woman serving 15 years in prison for fatally stabbing her abuser
Recommendation
Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
There’s a new police superintendent in Chicago. The city council chose the ex-counterterrorism head
Trudeau apologizes for recognition of Nazi unit war veteran in Canadian Parliament
Astronaut Frank Rubio spent a record 371 days in space. The trip was planned to be 6 months
A Georgia governor’s latest work after politics: a children’s book on his cats ‘Veto’ and ‘Bill’
FDA updates Ozempic label with potential blocked intestines side effect, also reported with Wegovy and Mounjaro
Moose on the loose in Stockholm subway creates havoc and is shot dead
Miranda Lambert and Husband Brendan McLoughlin's Love Story Will Have You Humming a Happy Tune