Vermont becomes first state to require oil companies to pay for damage from climate change

  • 📰 adndotcom
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Republican Gov. Phil Scott allowed the bill to become law without his signature late Thursday. Maryland, Massachusetts and New York are considering similar measures.

Flooding in downtown Montpelier, Vt., July 11, 2023. The state has passed a law requiring fossil fuel producers to pay for some of the state's recovery costs from climate-related storms.

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.

Vermont legislators know that the law will face legal challenges, and the governor worries about costs to the small state.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 293. in US

United States United States Latest News, United States United States Headlines