Current:Home > InvestNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -FundWay
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-18 16:01:04
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! (169)
Related
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Social media posts Trump claimed were made by judge's wife were not made by her, court says
- GDP may paint a sunny picture of the economy, but this number tells a different story
- Mississippi sheriff changes policies after violent abuse. Victims say it’s to escape accountability
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- India-US ties could face their biggest test in years after a foiled assassination attempt on a Sikh
- Developing nations press rich world to better fight climate change at U.N. climate summit
- Inmate transport driver who quit mid-trip and refused to stop charged with kidnapping, sheriff says
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Angel Reese returns, scores 19 points as LSU defeats Virginia Tech in Final Four rematch
Ranking
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- CBS News Philadelphia's Aziza Shuler shares her alopecia journey: So much fear and anxiety about revealing this secret
- 'Golden Bachelor' after that proposal: Gerry and Theresa talk finale drama, 'naughty' outing
- Virginia Environmental Groups Form New Data Center Reform Coalition, Call for More Industry Oversight
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- Alec Baldwin did not have to pay to resolve $25M lawsuit filed by slain Marine's family
- Madagascar’s top court ratifies president’s reelection in vote boycotted by opposition
- Director Ridley Scott on Napoleon: It's a character study with violence, with action, with everything you got
Recommendation
Buckingham Palace staff under investigation for 'bar brawl'
Global Red Cross suspends Belarus chapter after its chief boasted of bringing in Ukrainian children
Judge dismisses legal challenge against Virginia state senator over residency allegations
Police raid Moscow gay bars after a Supreme Court ruling labeled LGBTQ+ movement ‘extremist’
The Best Stocking Stuffers Under $25
Ronaldo walks off to chants of ‘Messi, Messi’ as his team loses 3-0 in Riyadh derby
Beyoncé drops new song 'My House' with debut of 'Renaissance' film: Stream
Meg Ryan defends her and Dennis Quaid's son, Jack Quaid, from 'nepo baby' criticism