Current:Home > MarketsNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -AssetScope
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-12 16:33:14
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! (95458)
Related
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Katy Perry Reveals Her and Orlando Bloom's Daughter Daisy Looks Just Like This Fictional Character
- Linebacker at Division II West Virginia State fatally shot on eve of game against previous school
- Joe Schmidt, Detroit Lions star linebacker on 1957 champions and ex-coach, dead at 92
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Firm offers bets on congressional elections after judge clears way; appeal looms
- Man convicted of killing 4 at a Missouri motel in 2014
- Alaska high court lets man serving a 20-year sentence remain in US House race
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- DC police officers sentenced to prison for deadly chase and cover-up
Ranking
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- How Prince Harry Plans to Celebrate His 40th Birthday With “Fresh Perspective on Life”
- Why Ali Krieger Isn't Revealing Identity of Her New Girlfriend After Ashlyn Harris Split
- A strike would add to turbulent times at Boeing
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- Demi Lovato Has the Sweetest Reaction to Sister Madison De La Garza’s Pregnancy
- Lake Powell Plumbing Will Be Repaired, but Some Say Glen Canyon Dam Needs a Long-Term Fix
- This Beloved Real Housewives of Miami Star Is Leaving the Show
Recommendation
Federal hiring is about to get the Trump treatment
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Cold Play
Disney-DirecTV dispute extends into CFB Week 3, here's the games you could miss
Oklahoma governor delays vote on minimum wage hike until 2026
Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
A mystery that gripped the internet for years has been solved: Meet 'Celebrity Number Six'
US consumer watchdog moves to permanently ban Navient from federal student loan servicing
Harvey Weinstein indicted in New York on additional charges