New York’s $75B Climate Shakedown Would Be ‘Catastrophic’, Raise Energy Costs, States Warn
AG leading suit against NY’s effort to punish oil companies over climate change warns of major repercussions.
by Charles Creitz June 19, 2025, 10:51 AM
A New York law signed by Gov. Kathy Hochul that would impose as much as $75 billion in liabilities on major fossil fuel companies by forcing them to pay into a state “climate superfund” depending on their emissions would hurt way more than the firms themselves, West Virginia Attorney General JB McCuskey warned Friday. [emphasis, links added]
“It would be catastrophic, not just for the economies of West Virginia, Kentucky, and Pennsylvania, but the economies of every state,” McCuskey said, as those states are likely to see the most negative effects due to their role in powering New York’s grid.
“If we don’t have access to reliable, inexpensive electricity, and the only way to make that right now is with fossil fuels, every American’s energy bills are going to skyrocket.”
McCuskey warned that it is those same energy companies that provide livable conditions and conveniences for the same New York City dwellers who boosted the policy.
https://climatechangedispatch.com/new-york-75b-climate-superfund-catastrophic/
