New Jersey Now Trying A “Polluters Pay” Bill Against Fossil Fuels Companies

New Jersey is so worried that the state has failed to give up their own use of fossil fuels

NJ Bill Would Make Fossil Fuel ‘Polluters’ Pay $50B For Climate Change

A proposed state law that would force dozens of fossil fuel companies to shell out $50 billion to help pay for the cost of climate change has taken another step forward in New Jersey.

On Thursday, an Assembly committee voted 4-2 to advance A3735: the “Polluters Pay to Make NJ More Affordable Act.”

Formerly known as the Climate Superfund Act, the bill targets companies that have “engaged in the trade or business of extracting fossil fuel or refining crude oil” since 1995, and have been responsible for more than one billion metric tons of greenhouse gas emissions.

The legislation would generate $2.5 billion annually from an estimated 82 fossil fuel corporations, its sponsors say.

Lot’s of Democrat run states which are not giving up their own use of fossil fuels, especially the politicians, are trying these polluters pay. NJ tried to sue, but, ended up losing in court because “Under our federal constitutional system, states cannot use their laws to resolve claims seeking redress for injuries allegedly caused by out-of-state and worldwide emissions”

The money collected from companies in violation of the law would be earmarked for flood protection, stormwater and sewage system upgrades, extreme weather preparation, health care related to climate change, upgrades to the electrical grid and energy-efficiency projects, among other uses.

Supporters of the bill say the legislation would direct $50 billion over 20 years into infrastructure, flood protection, energy cost reductions and disaster response – without raising taxes or fees on Garden State residents.

Right, right, I’m sure all the money will make it to those projects and not end up in the pockets of friendly NGOs, donors, and politicians

Meanwhile, some Republican state lawmakers have blasted the proposed law, including Sen. Declan O’Scanlon.

“Make no mistake, the Democrats ‘Superfund’ policy – supposedly to punish the evil oil companies for providing a product we all demand – would result in a massive, $2.5 billion yearly increase in energy costs on New Jersey residents,” O’Scanlon argued at a recent legislative hearing.

“Democrats are essentially saying “Don’t worry! We can charge oil companies $50 billion and they’ll just take the hit to their profits! They won’t simply pass the costs on to us! Trust us!’” he added. “It’s sheer lunacy.”

Hey, maybe they’ll just leave like Exxon. Maybe they’ll simply decide not to sell their products in NJ, especially the smaller companies.