New York fo Charge Fossil Fuel Companies Billions for Greenhouse Gas Emissions
28th December 2024
The state of New York will charge carbon-emitting companies an estimated $75 billion in climate damage they allegedly caused between 2000 and 2018 under a law enacted on Dec. 26.
This is the very poster child of an ex post facto law.
Gov. Kathy Hochul signed the Climate Change Superfund Act into law on Thursday. The law is certain to be challenged in court as a state preemption of federal regulatory oversight.
Adopted by lawmakers in June, the law—which goes into effect in 2028—will annually assess large companies’ carbon emissions across those first 19 years of the 21st century to “repair damage caused by extreme weather” they said aggravated by greenhouse gas emissions.
Wonder how they’re going to apply this to companies that don’t do business in New York.
This will have no practical effect. It’s just virtue-signaling, which a side order of we-can-sue-them-if-we-don’t-like them.