By Free Republic | Created at 2024-12-26 18:53:58 | Updated at 2024-12-27 10:12:09
15 hours ago
Polluters Pay Up: NY Law Forces Fossil Fuel Companies To Fund Climate Protections
Daily Voice ^ | 12/26/24 | Michael Mashburn
Posted on 12/26/2024 10:48:06 AM PST by SeekAndFind
A landmark law signed by Gov. Kathy Hochul on Thursday, Dec. 26, created a “Climate Superfund” requiring large fossil fuel companies to pay for critical projects aimed at protecting residents from severe weather impacts like flooding and extreme heat.
The move is meant to shift the cost of climate resilience projects from New Yorkers to those most responsible for the pollution, Hochul’s office said.
“With nearly every record rainfall, heatwave, and coastal storm, New Yorkers are increasingly burdened with billions of dollars in health, safety, and environmental consequences due to polluters that have historically harmed our environment,” Hochul said.
“Establishing the Climate Superfund is the latest example of my administration taking action to hold polluters responsible for the damage done to our environment and requiring major investments in infrastructure and other projects critical to protecting our communities and economy.”
The new legislation creates a Climate Change Adaptation Cost Recovery Program, mandating contributions from fossil fuel companies for infrastructure projects like coastal protection and flood mitigation systems.
Environmental advocates applauded the move as a historic step in climate accountability. Among them was Democratic State Sen. Liz Krueger, who sponsored the bill.
“Ihope we have made ourselves very clear: the planet’s largest climate polluters bear a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences,” Krueger said. “And there’s no question that those consequences are here, and they are serious.”
TOPICS: Business/Economy; Government; News/Current Events; US: New York
KEYWORDS: climatechange; kathyhochul; tax
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1 posted on 12/26/2024 10:48:06 AM PST by SeekAndFind
To: SeekAndFind
Just another corrupt, NY State cash grab
2 posted on 12/26/2024 10:48:45 AM PST by PGR88
To: SeekAndFind
Out of control government is out of control
3 posted on 12/26/2024 10:49:19 AM PST by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
To: SeekAndFind
And the consumer, the poor victim consumer, picks up the tab. This is the stealth gas tax - nothing more.
To: SeekAndFind
Time for the oil companies to Go Galt in NY.
5 posted on 12/26/2024 10:50:37 AM PST by kosciusko51
To: SeekAndFind
Ultimately the customers/taxpayers pay not the companies. As prices go up, inflation escalates and everyone is poorer.
6 posted on 12/26/2024 10:50:58 AM PST by gunnut
To: SeekAndFind
Mahattan Contrarian must be warming up his keyboard right now.
Nothing will drive businesses out of New York faster.
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