Current:Home > reviewsNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -Global Capital Summit
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-16 19:44:23
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! (3)
Related
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- 2024 NBA trade deadline predictions: Sixers, Lakers make moves; Warriors stick it out
- The Daily Money: Are they coming for my 401(k)?
- The Little-Known Story of How World War II Led to the Inception of New York Fashion Week
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- USDA warns Trader Joe's chicken pilaf may contain rocks: 'Multiple' complaints, dental injury reported
- Tablescaping Essentials to Elevate Your Next Dinner Party Aesthetic
- Spencer Dinwiddie leads top NBA potential buyout candidates
- Nevada attorney general revives 2020 fake electors case
- The Little-Known Story of How World War II Led to the Inception of New York Fashion Week
Ranking
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Mojo Nixon, radio host known for satirical hit 'Elvis is Everywhere,' dies at 66
- Shariah Harris makes history as first Black woman to play in US Open Women's Polo Championship
- Report: Former WNBA MVP Elena Delle Donne stepping away from basketball
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Have you had a workplace crush or romance gone wrong? Tell us about it.
- 17-year-old boy shot and killed by police during welfare check in Columbus, Nebraska
- Miami Heat's Haywood Highsmith cited for careless driving after man critically injured
Recommendation
Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
Baby zebra born on Christmas dies at Arizona zoo
Louisiana Gov. Jeff Landry calls for special session, focused on tough-on-crime policies
Ukrainian-Japanese Miss Japan pageant winner Karolina Shiino returns crown after affair comes to light
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
Kobe Bryant statue to be unveiled before Los Angeles Lakers' game vs. Denver Nuggets
Martha Stewart Says She Uses Botox and Fillers to Avoid Looking Her Age
Andy Reid's best work yet? Chiefs coach's 2023 season was one of his finest