Democrats Seek $500 Billion in Climate Damages From Big Polluting Companies

[Elderberry]

New York Times by Lisa Friedman 8/4/2021

Democrats in Congress want to tax Exxon, Chevron and a handful of other major oil and gas companies, saying the biggest climate polluters should pay for the floods, wildfires and other disasters that scientists have linked to the burning of fossil fuels.

The draft legislation from Senator Chris Van Hollen of Maryland directs the Treasury Department and the Environmental Protection Agency to identify the companies that released the most greenhouse gases into the atmosphere from 2000 to 2019 and assess a fee based on the amounts they emitted.

That could generate an estimated $500 billion over the next decade, according to Mr. Van Hollen. The money would pay for clean energy research and development as well as help communities face the flooding, fires and other disasters that scientists say are growing more destructive and frequent because of a warming planet.

The bill for the largest polluters could be as much as $6 billion annually spread over 10 years, according to a draft of the plan.

More: https://www.nytimes.com/2021/08/04/climate/tax-polluting-companies-climate.html

[Fishrrman]

"The bill for the largest polluters could be as much as $6 billion annually spread over 10 years, according to a draft of the plan."

A shakedown, plain and simple.

[AARguy]

Blue states elect nuts that want this? Let blue states pay.

[Smokin Joe]

No wonder the Democrats are so afraid of anti-parasitic drugs...

[christian]

democrats want to bleed this Country dry of economic blood until there is nothing left, but a skeleton.  Heavy fines/taxes on business is certain to raise prices on everyone.  economic Murder by proxy.  Sure to convince more businesses to leave America.

[IsailedawayfromFR]

Pull every gas station operated by Exxon and Chevron out of all blue states and see how that fares for these creatures of control.

[GtHawk]

Pull every gas station operated by Exxon and Chevron out of all blue states and see how that fares for these creatures of control.

That's just LOCO! You can't actually mean you want to assist these wankers in forcing their states population into gross polluting EV's even sooner than they already planned do you? That would actually make them and 1% of the state's populations wet themselves.

[Smokin Joe]

That's just LOCO! You can't actually mean you want to assist these wankers in forcing their states population into gross polluting EV's even sooner than they already planned do you? That would actually make them and 1% of the state's populations wet themselves.

You're right, of course. We'd need to shut off the GHG generating electrical grid, too.

[GtHawk]

Bet ya anything that if this looks like it has the slimmest chance of passing you will see a mad rush by our congress and senate snake to divest their portfolio's of any stock that would be impacted, losses are for the little people not the chosen.

[IsailedawayfromFR]

That's just LOCO! You can't actually mean you want to assist these wankers in forcing their states population into gross polluting EV's even sooner than they already planned do you? That would actually make them and 1% of the state's populations wet themselves.

Nope, the ones still operating in adjoining states will have a lot of business.

Remember what happened when Chicago taxes soft drinks and the people drove out of town to buy their beverages?

It hurt Chicago a lot more than it helped them.