Current:Home > ContactNew Jersey, home to many oil and gas producers, eyes fees to fight climate change -Wealth Momentum Network
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
View
Date:2025-04-12 23:53:04
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! (732)
Related
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- 49ers to explore options on Trey Lance after naming Sam Darnold backup to Brock Purdy, per report
- A retired Wyoming bishop cleared by Vatican of sexual abuse despite local findings has died at 91
- ESPN's Ryan Clark apologizes to Dolphins' Tua Tagovailoa after 'bad joke' stripper comment
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Terry Funk, WWE wrestling icon, dies at 79
- Schools could be getting millions more from Medicaid. Why aren't they?
- Pregnant Kourtney Kardashian Shares Look at Bare Baby Bump While Cuddling Up to Travis Barker
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- As research grows into how to stop gun violence, one city looks to science for help
Ranking
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Artist loses bid to remove panels covering anti-slavery murals at Vermont school
- This Mexican restaurant has been around nearly 100 years. Here's how Rosita's Place endures.
- Drug cartels are sharply increasing use of bomb-dropping drones, Mexican army says
- Buckingham Palace staff under investigation for 'bar brawl'
- ‘Dune: Part 2' release postponed to 2024 as actors strike lingers
- T-Mobile is laying off 5,000 employees
- Weekly news quiz: From mug shots and debate insults to meme dogs and a giraffe baby
Recommendation
How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
Maui County files lawsuit against Hawaiian Electric Company over deadly wildfires
Why Taylor Armstrong Is Confident Kyle Richards & Mauricio Umansky Will Work Through Marriage Troubles
A retired Wyoming bishop cleared by Vatican of sexual abuse despite local findings has died at 91
Most popular books of the week: See what topped USA TODAY's bestselling books list
Heavy rains cause street flooding in the Detroit area, preventing access to Detroit airport terminal
Judge OKs updated Great Lakes fishing agreement between native tribes, state and federal agencies
Average long-term US mortgage rate jumps to 7.23% this week to highest level since June 2001