New York Governor Finally Signs Laws Making Businesses Pay For Climate (scam) Emissions

What could possibly go wrong with this?

New York to charge fossil fuel companies for damage from climate change

Large fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed Thursday by Gov. Kathy Hochul.

The new law requires companies responsible for substantial greenhouse gas emissions to pay into a state fund for infrastructure projects meant to repair or avoid future damage from climate change.

Lawmakers approved the bill earlier this year to force big oil and gas companies to contribute to the cost of repairs after extreme weather events and resiliency projects such as coastal wetland restoration and upgrades to roads, bridges and water drainage systems.

“The Climate Change Superfund Act is now law, and New York has fired a shot that will be heard round the world: the companies most responsible for the climate crisis will be held accountable,” said state Sen. Liz Krueger, a Democrat who sponsored the bill.

I wonder if Hochul and Krueger have given up their own use of fossil fuels? Nah. We know they haven’t.

The law won’t start penalizing companies immediately. Instead, the state must come up with rules on how to identify responsible parties, notify companies of the fines and create a system to determine which infrastructure projects will be paid for by the fund. Legal challenges are expected.

They’ll have to figure out how much the cost of living will go up from this law, and how many companies will leave NY. Let’s go back to when they were discussing this earlier in 2024

New York Assembly Speaker Carl Heastie threw cold water on a bill that would require major energy companies to pay for climate change remediation, saying the measure could ultimately result in higher costs for utility ratepayers.

The Climate Change Superfund Act would require companies that contributed significantly to the buildup of greenhouse gases to pay for part of the mitigation efforts to offset climate change, including major infrastructure projects like water barriers.

The measure was approved in the state Senate, but has stalled in the Assembly.

Heastie says he’s concerned that it would result in higher utility prices, as the energy companies pass down the costs of the new requirements to ratepayers.

“I’ve never in my life seen corporations choose the ratepayer over the stockholder,” Heastie said. “Asking these companies to pay more, it’s going to be, of course, taken out on the ratepayer.”

It’s unknown if they managed to figure out a way to make it so the fees/taxes can’t be passed on, but, that would mean more companies leaving. They will be passed on. Hopefully those companies that stick around really sock it to the government for government purchases.

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