Current:Home > InvestNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -ProsperityStream Academy
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-17 17:29:40
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! (658)
Related
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- EU countries overcome key obstacle in yearslong plan to overhaul the bloc’s asylum rules
- 'It's personal': Lauren Holiday 'crushed' leaving Milwaukee after Bucks trade Jrue Holiday
- 2 Palestinian militants killed in gunfight with Israeli troops in West Bank raid
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- Slain Texas prisoner who was accused of killing 22 older women was stabbed by cellmate, report says
- Kylie Cantrall Shares the $5 Beauty Product She Takes With Her Everywhere
- Kevin Spacey rushed to hospital for health scare in Uzbekistan: 'Human life is very fragile'
- Giants, Lions fined $200K for fights in training camp joint practices
- Fears about Amazon and Microsoft cloud computing dominance trigger UK probe
Ranking
- The GOP and Kansas’ Democratic governor ousted targeted lawmakers in the state’s primary
- The flight attendants of CHAOS
- Your blood pressure may change as you age. Here's why.
- University of Maryland bus hits light pole, sending 27 to hospitals
- Boy who wandered away from his 5th birthday party found dead in canal, police say
- Mayor of Tokyo’s Shibuya district asks Halloween partygoers to stay away
- Judge tosses challenge to Louisiana’s age verification law aimed at porn websites
- AP, theGrio join forces on race and democracy panel discussion, as 2024 election nears
Recommendation
New Orleans mayor’s former bodyguard making first court appearance after July indictment
New York to allow ‘X’ gender option for public assistance applicants
Vice President Harris among scheduled speakers at memorial for Dianne Feinstein in San Francisco
Attack ads and millions of dollars flow into race for Pennsylvania Supreme Court seat
British swimmer Adam Peaty: There are worms in the food at Paris Olympic Village
Little Rock police officer charged with felony for shooting and wounding suspect
AP, theGrio join forces on race and democracy panel discussion, as 2024 election nears
Vice President Harris among scheduled speakers at memorial for Dianne Feinstein in San Francisco