Current:Home > NewsNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -EliteFunds
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-15 10:28:41
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! (657)
Related
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Blac Chyna Marks One Year of Sobriety With Subtle Nod to Daughter Dream and Son King
- You'll Be A Sucker For Nick Jonas and Priyanka Chopra's Cutest Pics
- Court sentences main suspects in Belgium’s deadliest peacetime attack to 20-year to life terms
- The White House is cracking down on overdraft fees
- Philadelphia native and Eagles RB D'Andre Swift has career game vs. Vikings
- What if public transit was like Uber? A small city ended its bus service to find out
- Tinder wants to bring Saweetie to your college campus. How to enter 'Swipe Off' challenge.
- Why members of two of EPA's influential science advisory committees were let go
- Steve Spurrier reflects on Tennessee-Florida rivalry, how The Swamp got its name and more
Ranking
- Senate begins final push to expand Social Security benefits for millions of people
- Sean 'Diddy' Combs gets key to New York, says Biggie would be proud: 'He'd probably be crying'
- 'Young people are freaked out': Weekend climate change protests planned around US, globe
- Wisconsin man accused of pepper-spraying police at US Capitol on Jan. 6 pleads guilty
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- At the request of Baghdad, UN will end in 1 year its probe of Islamic State extremists in Iraq
- Maryland’s schools superintendent withdraws his request to extend his contract
- UNESCO puts 2 locations in war-ravaged Ukraine on its list of historic sites in danger
Recommendation
Sam Taylor
Offshore wind projects need federal help to get built, six governors tell Biden
Climate change could bring more monster storms like Hurricane Lee to New England
North Dakota panel will reconsider denying permit for Summit CO2 pipeline
Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
Colorado mountain tied to massacre renamed Mount Blue Sky
AP PHOTOS: In India, river islanders face the brunt of increasingly frequent flooding
Tucker Carlson erupts into Argentina’s presidential campaign with Javier Milei interview