Current:Home > FinanceNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -PrimeWealth Guides
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-15 13:00:53
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! (4)
Related
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Get a $78 Anthropologie Pullover for $18, 25% off T3 Hair Tools, $800 off Avocado Organic Mattress & More
- Ancient statue unearthed during parking lot construction: A complete mystery
- Elon Musk Spotted on Rare Father-Son Outing With His and Grimes’ Son X Æ A-XII
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Massachusetts Senate passes bill to make child care more affordable
- Why FKA Twigs Doesn't Regret Burning Off Her Skin After Bleached Eyebrows Mishap
- Black Mirror Season 7 Details Revealed
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Putin again threatens to use nuclear weapons, claims Russia's arsenal much more advanced than America's
Ranking
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- Jury weighs fate of James Crumbley, mass shooter's dad, in case with national implications
- Spilling The Swift Tea: Sign up for the Taylor Swift newsletter
- Want to coach your alma mater in women's college basketball? That'll be $10 million
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- How does inflation affect your retirement plan?
- As threats to Black cemeteries persist, a movement to preserve their sacred heritage gains strength
- Hunter Biden trial on felony gun charges tentatively set for week of June 3
Recommendation
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
Derek Hough Details Wife Hayley Erbert's Possible Dance Comeback After Skull Surgery
Key moments surrounding the Michigan high school shooting in 2021
Most semi-automated vehicle systems fall short on safety, new test finds
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Anti-terrorism team of U.S. Marines sent to Haiti to protect U.S. Embassy after prime minister says he will resign
Texas teacher donates kidney to save life of toddler she did not know
A 1-year-old boy in Connecticut has died after a dog bit him