Current:Home > MyNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -FundSphere
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-16 04:13:49
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! (4518)
Related
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Little relief: Mortgage rates ease, pulling the average rate on a 30-year home loan to just below 7%
- Brittany Mahomes Shares “Sad” Update on Her and Patrick’s Future Family Pets
- 'Splashdown confirmed!' SpaceX Starship successful in fourth test launch
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Spotify is increasing membership prices again: See if your monthly bill will change
- Halsey reveals dual lupus and lymphoproliferative disorder diagnoses
- Dogs are mauling and killing more people. What to do pits neighbor against neighbor
- 9/11 hearings at Guantanamo Bay in upheaval after surprise order by US defense chief
- Migrants are rattled and unsure as deportations begin under new rule halting asylum
Ranking
- Residents in Alaska capital clean up swamped homes after an ice dam burst and unleashed a flood
- Trump outpaces Biden and RFK Jr. on TikTok in race for young voters
- Quicksand doesn’t just happen in Hollywood. It happened on a Maine beach
- Involuntary manslaughter case dropped against 911 dispatcher in Pennsylvania woman’s death
- Meta donates $1 million to Trump’s inauguration fund
- Trump outpaces Biden and RFK Jr. on TikTok in race for young voters
- Dakota Fanning Reveals Unconventional Birthday Gift Tom Cruise Has Given Her Every Year Since She Was 12
- Jelly Roll says weight loss journey was inspired by wanting to have a baby with Bunnie XO
Recommendation
Jury finds man guilty of sending 17-year-old son to rob and kill rapper PnB Rock
Video of man pushing Black superintendent at daughter's graduation sparks racism claims
Today is last day Walmart shoppers can claim up to $500. Here's how.
Supreme Court sides with Native American tribes in health care funding dispute with government
Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
Save 50% on Aerie Swimwear, 30% on Frontgate, 25% on Kiehl's, 50% on REI & More Deals
Ryan Anderson Reveals What Really Led to Gypsy Rose Blanchard Breakup
Man charged with killing Indiana police officer dies in prison while awaiting trial