Democrats Ramp Up War on Fossil Fuels as New York Governor Signs Law Forcing Energy Companies To Pay Billions in the Name of Climate Change

The American Petroleum Institute says the new law is ‘nothing more than a punitive new fee on American energy.’

AP/Julie Jacobson
A haze hangs over Manhattan at New York. AP/Julie Jacobson

Major fossil fuel companies will be required to hand over billions of dollars to help pay for New York State’s efforts to fight climate change under a new law signed by the governor Thursday.

Governor Hochul signed the Climate Change Superfund Act, creating a new requirement that companies seen as responsible for the majority of carbon emissions between 2000 and 2024 will have to pay roughly $3 billion a year for the next 25 years. 

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