So glad we elect Republicans to let this kind of thing go into effect, but, hey, maybe he wanted to teach some people about the Law Of Consequences
Vermont becomes 1st state to enact law requiring oil companies pay for damage from climate change
Vermont has become the first state to enact a law requiring fossil fuel companies to pay a share of the damage caused by climate change after the state suffered catastrophic summer flooding and damage from other extreme weather.
Republican Gov. Phil Scott allowed the bill to become law without his signature late Thursday, saying he is very concerned about the costs and outcome of the small state taking on “Big Oil” alone in what will likely be a grueling legal fight. But he acknowledged that he understands something has to be done to address the toll of climate change.
“I understand the desire to seek funding to mitigate the effects of climate change that has hurt our state in so many ways,” Scott, a moderate Republican in the largely blue state of Vermont, wrote in a letter to lawmakers.
Or, maybe he’s just an idiot squish.
Under the legislation, the Vermont state treasurer, in consultation with the Agency of Natural Resources, would provide a report by Jan. 15, 2026, on the total cost to Vermonters and the state from the emission of greenhouse gases from Jan. 1, 1995, to Dec. 31, 2024. The assessment would look at the effects on public health, natural resources, agriculture, economic development, housing and other areas. The state would use federal data to determine the amount of covered greenhouse gas emissions attributed to a fossil fuel company.
It’s a polluter-pays model affecting companies engaged in the trade or business of extracting fossil fuel or refining crude oil attributable to more than 1 billion metric tons of greenhouse gas emissions during the time period. The funds could be used by the state for such things as upgrading stormwater drainage systems; upgrading roads, bridges and railroads; relocating, elevating or retrofitting sewage treatment plants; and making energy efficient weatherization upgrades to public and private buildings. It’s modeled after the federal Superfund pollution cleanup program.
“For too long, giant fossil fuel companies have knowingly lit the match of climate disruption without being required to do a thing to put out the fire,” Paul Burns, executive director of the Vermont Public Interest Research Group, said in a statement. “Finally, maybe for the first time anywhere, Vermont is going to hold the companies most responsible for climate-driven floods, fires and heat waves financially accountable for a fair share of the damages they’ve caused.”
I’m seriously looking forward to the Unintended Consequences of this. What could they be? Will any companies pull out? Will they refuse to sell to the Vermont state government? Will the cost of energy skyrocket, which would cause the cost of food and other goods to skyrocket?
Read: Vermont Law Charging Fossil Fuels Companies For ‘Climate Change’ Enacted »
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