Current:Home > ContactNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -Streamline Finance
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-12 15:28:26
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! (6424)
Related
- Tom Holland's New Venture Revealed
- Finding an apartment may be easier for California pet owners under new legislation
- More human remains believed those of missing woman wash up on beach
- Republicans file lawsuit challenging Evers’s partial vetoes to literacy bill
- Bet365 ordered to refund $519K to customers who it paid less than they were entitled on sports bets
- Puerto Rican parrot threatened by more intense, climate-driven hurricanes
- Man granted parole for his role in the 2001 stabbing deaths of 2 Dartmouth College professors
- Why Cheryl Burke Says Being a Breadwinner Put Strain on Matthew Lawrence Marriage
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Baby boomers are hitting peak 65. Two-thirds don't have nearly enough saved for retirement.
Ranking
- Skins Game to make return to Thanksgiving week with a modern look
- Full jury seated at Trump trial on third day of selection process
- Musicians pay tribute to Allman Brothers guitarist Dickey Betts after death at 80
- Travis Barker Proves Baby Rocky Is Growing Fast in Rare Photos With Kourtney Kardashian
- Buckingham Palace staff under investigation for 'bar brawl'
- Man charged with 4 University of Idaho deaths was out for a drive that night, his attorneys say
- Mariska Hargitay Helps Little Girl Reunite With Mom After She's Mistaken for Real-Life Cop
- Woman falls to her death from 140-foot cliff in Arizona while hiking with husband and 1-year-old child
Recommendation
Vance jokes he’s checking out his future VP plane while overlapping with Harris at Wisconsin airport
Review: Henry Cavill's mustache leads the charge in 'Ministry of Ungentlemanly Warfare'
Taylor Swift releases 'Tortured Poets Department' merch, sneak peek of 'Fortnight' video
AP Week in Pictures: North America
Audit: California risked millions in homelessness funds due to poor anti-fraud protections
Google fires 28 employees after protest against contract with Israeli government
The Latest | Officials at Group of Seven meeting call for new sanctions against Iran
Why is the economy so strong? New hires are spending more and upgrading their lifestyles