New York Governor Kathy Hochul signed a law on December 27 that allows the state to impose fines totaling $75 billion on oil and natural gas companies over the next 25 years. This is based on claims that these companies have caused climate-related damage to the state's infrastructure. Hochul stated that New Yorkers face increasing health and environmental issues due to pollution and emphasized that this law shifts climate adaptation costs from citizens to the fossil fuel companies responsible for pollution.
The Climate Change Superfund Act is based on the “polluter pays” principle from the original Superfund law, which holds parties responsible for cleanup of toxic sites. However, critics argue that treating carbon dioxide emissions, which many consider beneficial to life, the same as toxic waste is misleading. They claim that linking extreme weather events directly to fossil fuel use is speculative, and the law does not establish a clear cause-and-effect relationship.
Critics also suggest that Hochul and Democrats aim to extract money from oil and gas companies rather than address infrastructure needs through higher taxes on residents. Companies that emitted over 1 billion metric tons of carbon dioxide between 2000 and 2018 will be held accountable, with fines determined by state officials.
Vermont has passed a similar law, and other states like California and Massachusetts are considering it. However, past cases have shown legal challenges regarding the use of state law against global greenhouse gas emissions. The U. S. Supreme Court may provide clarity on these matters, as it considers a case involving Sunoco LP and its alleged impact on climate. A decision on whether to hear this case is expected in early 2025, while states prepare to protect their climate agendas amid potential federal policy changes.
https://www.cfact.org/2025/01/03/new-yorks-anti-fossil-fuel-shakedown-could-spread-to-other-states/#
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