Current:Home > ContactNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -Visionary Wealth Guides
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-15 17:09:59
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! (678)
Related
- Meet first time Grammy nominee Charley Crockett
- Michigan soldier’s daughter finally took a long look at his 250 WWII letters
- Sean Diddy Combs' Lawyers File New Motion for Bail, Claiming Evidence Depicts a Consensual Relationship
- Sam LaPorta injury update: Lions TE injures shoulder, 'might miss' Week 11
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Elon Musk responds after Chloe Fineman alleges he made her 'burst into tears' on 'SNL'
- Love Is Blind’s Chelsea Blackwell Reacts to Megan Fox’s Baby News
- Mississippi rising, Georgia falling in college football NCAA Re-Rank 1-134 after Week 11
- 'Most Whopper
- Tampa Bay Rays' Wander Franco arrested again in Dominican Republic, according to reports
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Jenn Tran's Ex Devin Strader Throws Shade At Her DWTS Partner Sasha Farber Amid Romance Rumors
- Wall Street makes wagers on the likely winners and losers in a second Trump term
- MVSU football player killed, driver injured in crash after police chase
- Trump issues order to ban transgender troops from serving openly in the military
- Police capture Tennessee murder suspect accused of faking his own death on scenic highway
- Jason Kelce collaborates with Stevie Nicks for Christmas duet: Hear the song
- West Virginia governor-elect Morrisey to be sworn in mid-January
Recommendation
Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
Volkswagen, Mazda, Honda, BMW, Porsche among 304k vehicles recalled: Check car recalls here
Disney x Lululemon Limited-Edition Collection: Shop Before It Sells Out
Wildfires burn from coast-to-coast; red flag warnings issued for Northeast
Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
Pentagon secrets leaker Jack Teixeira set to be sentenced, could get up to 17 years in prison
U.S.-Mexico water agreement might bring relief to parched South Texas
Police capture Tennessee murder suspect accused of faking his own death on scenic highway