Current:Home > FinanceNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -OceanicInvest
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-19 15:54:42
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! (34629)
Related
- The Grammy nominee you need to hear: Esperanza Spalding
- Rep. Tony Gonzales on potential border deal passing the House: Have to sweeten the deal
- Parenting advice YouTuber Ruby Franke pleads guilty to 4 counts of child abuse
- State Rep. Randy Lyness says he will retire after current term and won’t seek reelection in 2024
- North Carolina justices rule for restaurants in COVID
- Fresh off reelection in Kentucky, Democratic Gov. Beshear presents budget plan in televised speech
- Step by step, Francis has made the Catholic Church a more welcoming place for LGBTQ people
- In a landslide, Kansas picks a new license plate. It recalls sunsets and features the Capitol dome
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- Accused serial killer lured victims by asking them to help dig up buried gold, Washington state prosecutors say
Ranking
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- No, it's not your imagination, Oprah Winfrey is having a moment. Here's why.
- Artificial intelligence can find your location in photos, worrying privacy experts
- House Democrats call on Justice Clarence Thomas to recuse from Trump 2020 election case
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- NBA power rankings: Rudy Gobert has Timberwolves thriving in talent-laden West
- These 50 Top-Rated Amazon Gifts for Teens With Thousands of 5-Star Reviews Will Arrive By Christmas
- The Excerpt podcast: The housing crisis is worsening. What's the solution?
Recommendation
'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
Biden has big plans for semiconductors. But there's a big hole: not enough workers
Watchdog group accuses Ron DeSantis of breaking campaign finance law
Sheikh Nawaf, Kuwait's ruling emir, dies at 86
'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
Air Jordans made for Spike Lee and donated to Oregon shelter auctioned for nearly $51,000
Wisconsin DNR preps 2024 grant program for small water systems to deal with PFAS contamination
4 years in prison for Nikola Corp founder for defrauding investors on claims of zero-emission trucks