“Gov. Kathy Hochul of New York on Thursday signed a law that requires companies that are big fossil fuel polluters to help pay to repair damage caused by extreme weather, which is becoming more common because of greenhouse gas emissions. The legislation, called the Climate Change Superfund Act, mandates that the companies responsible for the bulk of carbon emissions buildup between 2000 and 2024 pay about $3 billion each year for 25 years.” NY Times.
“Although opponents of the law said that it will force energy companies to raise prices, some economists have noted that since fees are based on past emissions, and oil prices are set by a global market, future prices should not be affected.” NY Times. I have a degree in Economics and I know first hand that you can find someone who is a winner of a Dumbell Prize in Economics who will tell you that the Energy consumer will not be footing the bill for this!
And that is all I’m going to say about that!
RIP Peter Teeley
Drain the Cesspool 