Current:Home > FinanceNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -MarketLink
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-15 05:15:10
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! (174)
Related
- Travis Hunter, the 2
- Takeaways from Hunter Biden’s gun trial: His family turns out as his own words are used against him
- Inside Huxley & Hiro, a bookstore with animal greeters and Curious Histories section
- Search underway for Michael Mosley, TV presenter and doctor who is missing after going for walk in Greece
- Nevada attorney general revives 2020 fake electors case
- FDA alert: 8 people in 4 states sickened by Diamond Shruumz Microdosing Chocolate Bars
- Lewiston survivors consider looming election as gun control comes to forefront after mass shooting
- Figure skating coach Frank Carroll, who coached Michelle Kwan and other Olympians, dies at age 85
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- ‘Bad Boys: Ride or Die’ boosts Will Smith’s comeback and the box office with $56 million opening
Ranking
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Classic Japanese film 'Seven Samurai' returns to movie theaters in July with 4K restoration
- Protect Your Hair & Scalp From the Sun With These Under $50 Dermatologist Recommended Finds
- 'Disappointing loss': Pakistan faces yet another embarrassing defeat in T20 World Cup
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- Gypsy Rose Blanchard Reveals How She Marks the Anniversary of Her Mom's Death
- Deontay Wilder's fiancée gets temporary restraining order after she details alleged abuse
- As consumers pump the brakes on EV purchases, hybrid production ramps up
Recommendation
Trump's 'stop
Khloe Kardashian Reveals Surprising Word 22-Month-Old Son Tatum Has Learned to Say
Best MLB stadium tours: Go behind the scenes at these ballparks
From women pastors to sexual abuse to Trump, Southern Baptists have a busy few days ahead of them
Trump wants to turn the clock on daylight saving time
Katie Holmes Makes Rare Comment About Daughter Suri While Reflecting on Style Evolution
Scottie Scheffler continues dominant PGA Tour season with 1-stroke victory at the Memorial
These Fascinating Secrets About Reese Witherspoon Will Make You Want to Bend and Snap