Current:Home > StocksNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -Elevate Capital Network
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
Charles Langston View
Date:2025-04-07 05:08:10
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! (28)
Related
- Organizers cancel Taylor Swift concerts in Vienna over fears of an attack
- Judge appoints special master to oversee California federal women’s prison after rampant abuse
- Part of a crane falls on Fort Lauderdale bridge, killing 1 person and injuring 3 others
- Sean Diddy Combs and Son Christian Sued Over Alleged Sexual Assault and Battery
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Small Illinois village preps for second total eclipse in 7 years
- What Sofía Vergara and Joe Manganiello Are Each Getting in Their Divorce
- LGBTQ+ foster youths could expect different experiences as Tennessee and Colorado pass opposing laws
- Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
- Does Amazon's cashless Just Walk Out technology rely on 1,000 workers in India?
Ranking
- FBI: California woman brought sword, whip and other weapons into Capitol during Jan. 6 riot
- Earthquake maps show where seismic activity shook the Northeast today
- Inmates all abuzz after first honey harvest as beekeepers in training
- Final Four bold predictions: How the men's semifinals of March Madness will unfold
- Golf's No. 1 Nelly Korda looking to regain her form – and her spot on the Olympic podium
- Flying with pets? Here's what to know.
- Tesla shares down after report on company scrapping plans to build a low-cost EV
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, First Class
Recommendation
Kentucky Gov. Andy Beshear ready to campaign for Harris-Walz after losing out for spot on the ticket
Federal investigation begins of fatal Florida crane collapse; bridge reopens
EPA head Regan defends $20B green bank: ‘I feel really good about this program’
Plea talks ongoing for 3rd man charged in killing of Run-DMC star Jam Master Jay
DoorDash steps up driver ID checks after traffic safety complaints
Elle King Reveals What Inspired Her New Butt Tattoo
Elle King Reveals What Inspired Her New Butt Tattoo
'Game of Thrones' star Joseph Gatt files $40M lawsuit against Los Angeles officials for arrest