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Vermont this week became the first U.S. state to pass a law requiring oil and gas companies to pay for climate change-related damage caused by their emissions, a move that is sure to spark legal challenges from the energy industry.
Late Thursday, Gov. Phil Scott allowed the bill to become law without his signature, citing concerns that the small state would be alone in a long and expensive battle against “Big Oil”. “The costs and consequences of the contest.
“We are not setting ourselves up for success when the Legislature appropriated only $600,000 to complete an analysis that would have to withstand the rigorous legal scrutiny of a well-funded defense,” Scott said in a letter to state lawmakers. Prepare.
But “I understand the desire to seek funding to mitigate the effects of climate change, which is harming our state in many ways,” the governor wrote.
The American Petroleum Institute said it was “extremely concerned” [law] Retroactively imposing costs and liabilities on previously lawful activities violates the equal protection and due process rights of holding companies responsible for the conduct of society at large; and is preempted by federal law.
New York, California, Massachusetts and Maryland are considering similar legislation.
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