What's NewNew York Governor Kathy Hochul, a Democrat, signed legislation this week that requires major fossil fuel companies to contribute fees to support New York's climate change mitigation efforts.Under the new law, companies with significant greenhouse gas emissions will be required to contribute to a state fund dedicated to infrastructure projects aimed at mitigating future climate change damage and repairing existing impacts.
What People Are SayingAmerican Petroleum Institute, a top lobbying group in the oil industry, said in a statement: 'This type of legislation represents nothing more than a punitive new fee on American energy, and we are evaluating our options moving forward.
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