New York is finding new ways to squeeze money out of corporations to help keep its massive budget afloat.
The Climate Change Superfund Act signed into law on Thursday would allow the state to financially penalize oil and gas companies for "climate change" damage.
Meaning if there's a storm or natural disaster that they blame on climate change then the state will hold oil and gas producers, as well as companies that use lots of fossil fuel, responsible for the damage caused.
Gov. Kathy Hochul of New York on Thursday signed a law that requires companies that are big fossil fuel polluters to help pay to repair damage caused by extreme weather, which is becoming more common because of greenhouse gas emissions.
The legislation, called the Climate Change Superfund Act, mandates that the companies responsible for the bulk of carbon emissions buildup between 2000 and 2024 pay about $3 billion each year for 25 years.
This is from the New York Times so, of course, they don't even question the assumption that storms are caused by "climate change." And, of course, they would also think big corporations should be fine to add millions to their budget to pay retroactive fines to the state of New York.
A form of climate reparations, if you will.
Albany will surely use the money well.
The idea is to take some of the burden off taxpayers, who now are on the hook for financing much of the cleanup and mitigation efforts after weather disasters. The law takes particular aim at the oil and gas companies that produced more than one billion tons of greenhouse gas emissions globally over the last 24 years.
'Nothing could be fairer than making climate polluters pay,' said Lee Wasserman, the director of the Rockefeller Family Fund, a nonprofit that pushed for the passage of the law.
Well, if the Rockefeller's, the original big oil family, support the bill then by all means.
Supposedly this will help the taxpayer. Because nothing helps the little man more than forcing their employer to pay millions or billions in unnecessary regulations. That would never drive a company out of business or out of state, right?
New York is the second state, behind Vermont, to pass a bill that penalizes oil and gas companies for their contributions to climate change.
Because if you pay the government a fine then the planet will cool back down.
We promise!
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