 Energy & Environment |
Energy & Environment |
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Vermont becomes first state to require oil companies to pay for climate change damage |
Vermont will become the first state in the nation to require oil companies to pay for the impacts of climate change after the state's GOP governor, Phil Scott, allowed a new bill to become law without his signature. |
The state's Climate Superfund Act is modeled on federal Superfund law and seeks to assess financial penalties for emissions generated between 1995 and 2024, which could total billions of dollars. The bill passed the state House in a 94-38 vote May 7, a margin just shy of a supermajority. In an earlier procedural vote, it received a veto-proof 100 votes, suggesting the Legislature had the votes to override a veto from Scott's office. The Climate Superfund Act is the first of several similar state bills to become law. The New York state Senate passed its own legislation earlier this month, but earlier this week New York Assembly Speaker Carl Heastie (D) was leery of the measure, telling reporters he believed it would hurt utility customers. "I've never in my life seen corporations choose the ratepayer over the stockholder," Heastie told reporters Thursday, according to WXXI. "Asking these companies to pay more, it's going to be, of course, taken out on the ratepayer." In a statement accompanying his decision to allow the bill to become law, Scott expressed concerns about the logistics of proceeding with the law alone, noting Vermont's low population and gross domestic product relative to states such as New York and California. He also suggested that the law, which appropriates $600,000 to conduct an analysis of how the program will work and be defended in court, is "not positioning [us] for success." Read more in a full report at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, I'm Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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U.S. Energy Secretary Jennifer Granholm on Friday called for more nuclear reactors to be built in the United States and worldwide. But the CEO of the Georgia utility that just finished the first two scratch-built American reactors in a generation at a cost of nearly $35 billion says his company isn't ready to pick up that baton. |
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A majority of American voters support litigation against oil companies for the effects of climate change, according to a new survey by the left-leaning polling firm Data for Progress. |
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The increasing incidence of climate change-induced heat spikes, wildfires and life-threatening flash floods is engulfing pregnant and postpartum individuals in a wave of eco-anxiety and depression. |
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Branch out with a different read on The Hill: |
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West Virginia Sen. Joe Manchin, a conservative Democrat, officially filed as an independent Friday. "My commitment to do everything I can to bring out country together has led me to register as an independent with no party affiliation," Manchin posted on the social platform X. |
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Upcoming news themes and events we're watching: |
Tuesday: - The Senate Energy & Natural Resources Committee will hold a business meeting to consider the nominations of David Rosner, Lindsay S. See and Judy W. Chang, to be members of the Federal Energy Regulatory Commission.
The House Natural Resources Committee's Subcommittee on Energy and Mineral Resources will hold a hearing on three pieces of legislation.
Wednesday:
The Senate Budget Committee will hold a hearing on the effects of climate change on insurance markets.
The House Oversight Committee will hold a hearing on oversight of the U.S. Environmental Protection Agency.
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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New US rules aim to crack down on toxic air pollution by steelmakers (The Guardian)
'Biggest heat event of the year' about to settle into Bay Area (The Mercury News) EPA rule could spur consolidation of water sector (E&E News)
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Two key stories on The Hill right now: |
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Ivanka Trump is speaking out publicly for the first time since her father, former President Trump, was found guilty of all 34 counts in his hush money criminal case. Read more |
| President Biden announced the terms of an Israeli-led proposal Friday that includes a three-part road map toward an end to fighting and the release of all remaining hostages taken Oct. 7, giving the strongest indication yet for a potential end to the war between Israel and Hamas. Read more |
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Op-eds related to energy & environment submitted to The Hill: |
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You're all caught up. See you next week! |
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