New Jersey to Consider Charging Fossil Fuel Companies for Pollution

A proposed New Jersey state bill would require petrochemical companies to pay for ongoing cleanups of toxic waste, according to an Associated Press article republished in Fast Company.

The measure would create a ‘Climate Superfund’ at the state level that would collect funds from the polluting entities rather than passing on the cost of cleanup to taxpayers. The law would assess damages resulting from greenhouse gas emissions from fossil fuels dating back to 1995.

Industry representatives say the measure would raise the cost of gasoline and home heating oil for consumers. An official with the New Jersey Business and Industry Association called the bill “unconstitutionally vague in assessments of costs.” The proposal does not include specifics on the fees.