New York Governor Kathy Hochul is giving people and businesses more reasons to leave.
New York Governor Kathy Hochul has signed a bill to fine gas and oil companies $75 billion for damaging the climate. It applies to large oil and gas companies that the state of New York believes have produced over 1 billion tons of greenhouse gases. Even with among the highest taxes in the nation, Hochul apparently can, at will, just selectively fine companies she doesn't like.
As a result, starting in 2028, companies will start paying for the amount of greenhouse gases they produced between 2000 and 2018.
According to the Populist Times:Announcing the measure, Gov. Hochul said New Yorkers are “burdened with billions of dollars in health, safety, and environmental consequences due to polluters that have historically harmed our environment.” She claimed that the “Climate Superfund” would hold polluters responsible for their actions by requiring them to invest in infrastructure and communities.
Democrat Senator Liz Krueger, who sponsored the bill alongside Assembly Member Jeffrey Dinowitz, said it would ensure major polluters “must pay their fair share to help regular New Yorkers deal with the consequences.” Sen. Krueger also noted that courts have previously avoided ruling on climate change matters, instead referring them to elected lawmakers. She claimed that, by 2050, New Yorkers will be required to pay more than half a trillion dollars in “repairing from and preparing for extreme weather caused by climate change.” She estimated that each household would fork about $65,000, excluding the cost of “disruption, injury, and death” caused by climate change.
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