A new bill signed by New York Gov. Kathy Hochul aims to charge oil and gas companies $75 billion for past pollution. While intended to fund climate change infrastructure projects, energy and economic experts warn the bill could lead to regressive costs for working families through increased energy prices.
A New York Democratic bill aimed at charging oil and gas companies for pollution could result in regressive costs for working families in the state, energy and economic experts tell Fox News Digital.
While the bill seeks to fine large corporations, some economists say that such actions will result in higher prices for some New Yorkers. OH Skinner is the executive director of the Alliance for Consumers, a Phoenix-based nonprofit committed to ensuring consumer protection efforts, class-action lawsuits, and attorney general enforcement actions are consistent with the rule of law.Skinner called the bill “the latest attempt by left-wing politicians in New York to drive reliable energy production out of existence and force everyone to abide by their preferred Progressive Lifestyle Choices.
However, proponents praised the legislation for requiring companies to pay for fossil fuel pollution in the state.
Climate Change Legislation Energy Prices New York Economy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New York to charge fossil fuel companies for damage from climate changeLarge fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed by Democratic Gov. Kathy Hochul.
Read more »
New York to charge fossil fuel companies for damage from climate changeLarge fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed by Democratic Gov. Kathy Hochul. The governor signed the new law Thursday.
Read more »
New York to charge fossil fuel companies for damage from climate changeLarge fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed by Democratic Gov. Kathy Hochul.
Read more »
New York to charge fossil fuel companies for damage from climate changeLarge fossil fuel companies would have to pay fees to help New York fight the effects of climate change
Read more »
New York to charge fossil fuel companies for damage from climate changeLarge fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed by Gov. Kathy Hochul.
Read more »
New York to charge fossil fuel companies for damage from climate changeA bill signed into law this week 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.
Read more »