New York Hochul Signs Bill Fining Oil and Gas Companies $75 Billion to Pay for Climate Damage

If anyone had started thinking maybe New York State and City were getting some sense, fear not. The latest holiday signing of bills passed by Governor Hochul will not bring much merriment to the oil and gas industries. Vermont sign a similar bill last summer. A So called “Super Fund.”

“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,” Governor 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 Marxist bill was carried by Democrat Senator Liz Krueger and Assembly Member Jeffrey Dinowitz.

Reuters reported

New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday.

The law is intended to shift some of the recovery and adaptation costs of climate change from individual taxpayers to oil, gas and coal companies that the law says are liable. The money raised will be spent on mitigating the impacts of climate change, including adapting roads, transit, water and sewage systems, buildings and other infrastructure.

Fossil fuel companies will be fined based on the amount of greenhouse gases they released into the atmosphere between 2000 and 2018, to be paid into a Climate Superfund beginning in 2028. It will apply to any company that the New York Department of Environmental Conservation determines is responsible for more than 1 billion tons of global greenhouse gas emissions.

New York becomes the second state to pass such a law after Vermont passed its own version this summer. The laws are modeled after existing state and federal superfund laws that require polluters to pay to clean up toxic waste.

More can be found at Gateway Pundit

And she is not done either. If every state believed as New York, we would still be driving the horse and buggy.

Hochul signs bill banning CO2 fracking also.

This reminded me of an earlier boondoggle reported by Bunk. Here is part of it:

New York City cuts 1,000 trees to raise park 8-10 feet to address panic over 3mm sea level rise.

December 29, 2021

All for the mere sum of $1.45 Billion to start. De Blasio claims it’s the first project such as this done in the world. “Coastal Resiliency” is the new term for boondoggles that plunder the treasury in the name of climate change. East River Park is the lucky recipient of this destruction. No millionaires living here in the East River Park area. It is no Central park. But for these folks, it was their little piece of heaven. No second homes for them to escape the city.

East River Park Org:

New York City is demolishing our big, beloved park on the unwealthy side of the Lower East Side and East Village. Everything must go–shady lawns, picnic areas, ballfields, running track, amphitheater, the compost yard, historic buildings, and 1,000 trees, most 82 years old and healthy.

The city is going ahead with the massively destructive ESCR–East Side Coastal Resiliency project–even though there are alternatives that could preserve much of our park and provide flood control.

Under the current plan, the city will build a 1.2 mile wall along the water and cover the razed park with eight feet of fill. Eventually a new park will be built on top of this levee.

Life in the big city. The best of the swamp