New Jersey Considers Climate Tax on Oil and Gas Companies

The state of New Jersey is looking to follow in Vermont’s footsteps and introduce a fee on oil and gas companies that would go to a climate superfund as a means to make polluters pay. Senate Bill No. 3545, which the New Jersey Senate Environment and Energy Committee is debating on Thursday, would seek to impose liability on certain fossil fuel companies for certain damages caused by climate change. The so-called ‘Climate Superfund Act’ would be similar to one the state of Vermont enacted earlier this year that takes on oil companies…