Current:Home > ScamsNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -WealthFlow Academy
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-15 09:23:41
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! (7)
Related
- $73.5M beach replenishment project starts in January at Jersey Shore
- Harvey Weinstein to appear in NY court following 2020 rape conviction overturn
- House to vote on expanded definition of antisemitism amid growing campus protests
- Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
- Meet first time Grammy nominee Charley Crockett
- Beekeeper Matt Hilton plays the hero after ending delay for Dodgers-Diamondbacks game
- Ford recalls Maverick pickups in US because tail lights can go dark, increasing the risk of a crash
- Sad ending for great-horned owl nest in flower pot on Wisconsin couple's balcony
- Buckingham Palace staff under investigation for 'bar brawl'
- Google and Apple now threatened by the US antitrust laws helped build their technology empires
Ranking
- Senate begins final push to expand Social Security benefits for millions of people
- Police storm into building held by pro-Palestinian protesters at Columbia | The Excerpt
- Walmart will close all 51 of its health centers: See full list of locations
- Potential shooter 'neutralized' outside Wisconsin middle school Wednesday, authorities say
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- Florida’s 6-week abortion ban takes effect as doctors worry women will lose access to health care
- Southern Charm's Madison LeCroy Says This Brightening Eye Cream Is So Good You Can Skip Concealer
- At least 9 dead, dozens treated in Texas capital after unusual spike in overdoses
Recommendation
Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
Police fatally shoot a man who sliced an officer’s face during a scuffle
Beyoncé is the most thankful musician followed by Victoria Monét, according to new study
The botched FAFSA rollout leaves students in limbo. Some wonder if their college dreams will survive
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Testimony ends in a trial over New Hampshire’s accountability for youth center abuse
Remains of child found in duffel bag in Philadelphia neighborhood identified as missing boy
No criminal charges after 4 newborn bodies found in a freezer