Current:Home > FinanceNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -Visionary Growth Labs
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-18 07:32:23
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! (99)
Related
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- It's the warmest September on record thanks to El Niño and, yes, climate change
- 11 sent to hospital after ammonia leak at Southern California building
- No. 8 Oregon at No. 7 Washington highlights the week in Pac-12 football
- Military service academies see drop in reported sexual assaults after alarming surge
- Murder suspect on the run after shooting at and injuring Georgia deputy, authorities say
- Louisiana governor’s race ignites GOP hopes of reclaiming position as Democrats try to keep it blue
- Malaysia will cut subsidies and tax luxury goods as it unveils a 2024 budget narrowing the deficit
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- How to Slay Your Halloween Hair, According Khloe Kardashian's Hairstylist Andrew Fitzsimons
Ranking
- Buckingham Palace staff under investigation for 'bar brawl'
- 11 sent to hospital after ammonia leak at Southern California building
- Site of Israeli music festival massacre holds shocking remnants of the horrific attack
- Hunter Biden investigations lead to ethical concerns about President Biden, an AP-NORC poll shows
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Jada Pinkett Smith Reveals She Moved Out of Home She Shared With Will Smith
- Blast strikes Shiite mosque during Friday prayers in Afghanistan’s north
- UAW breaks pattern of adding factories to strikes on Fridays, says more plants could come any time
Recommendation
Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
Russian athletes won’t be barred from the Paris Olympics despite their country’s suspension
Fierce fighting persists in Ukraine’s east as Kyiv reports nonstop assaults by Russia on a key city
Louise Glück, Nobel-winning poet of terse and candid lyricism, dies at 80
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Louise Glück, Nobel-winning poet of terse and candid lyricism, dies at 80
California Gov. Newsom signs law to slowly raise health care workers’ minimum wage to $25 per hour
Grandson recounts seeing graphic video of beloved grandmother killed by Hamas