Current:Home > ContactNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -InvestPioneer
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-12 05:23:03
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! (47)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Krispy Kreme: New Go USA doughnuts for 2024 Olympics, $1 doughnut deals this week
- The Hills’ Whitney Port Shares Insight Into New Round of Fertility Journey
- MLB trade deadline rumors heat up: Top players available, what to know
- Why members of two of EPA's influential science advisory committees were let go
- From discounted trips to free books, these top hacks will help you nab deals
- Police announce second death in mass shooting at upstate New York park
- New England Patriots DT Christian Barmore diagnosed with blood clots
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Video shows a vortex of smoke amid wildfire. Was it a fire tornado?
Ranking
- Trump invites nearly all federal workers to quit now, get paid through September
- Shop Coach Outlet’s Whimsical Collection: Score Fairy Cottagecore Bags and Fashion up to 65% Off
- Chinese glass maker says it wasn’t target of raid at US plant featured in Oscar-winning film
- Colts owner Jim Irsay makes first in-person appearance since 2023 at training camp
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- USWNT's future is now as Big Three produce big results at Paris Olympics
- A group of 2,000 migrants advance through southern Mexico in hopes of reaching the US
- USDA moves to limit salmonella in raw poultry products
Recommendation
Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
Simone Biles to compete on all four events at Olympic team finals despite calf injury
Fresh quakes damage West Texas area with long history of tremors caused by oil and gas industry
‘White Dudes for Harris’ is the latest in a series of Zoom gatherings backing the vice president
How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
Olympic surfer's head injury underscores danger of competing on famous wave in Tahiti
Emma Chamberlain and Peter McPoland Attend 2024 Olympics Together Amid Dating Rumors
Rafael Nadal's loss vs. Novak Djokovic suggests his time in tennis is running short