Posted on 04/02/2024 6:43:47 AM PDT by Oldeconomybuyer
The Vermont Legislature is advancing legislation requiring big fossil fuel companies pay a share of the damage caused by climate change after the state suffered catastrophic summer flooding and damage from other extreme weather.
“In order to remedy the problems created by washed out roads, downed electrical wires, damaged crops and repeated flooding, the largest fossil fuel entities that have contributed to climate change should also contribute to fixing the problem that they caused,” Sen. Nader Hashim, a Democrat from Windham County, said to Senate colleagues on Friday.
It’s a polluter-pays model affecting companies engaged in the trade or business of extracting fossil fuel or refining crude oil attributable to more than 1 billion metric tons of greenhouse gas emissions during the time period. The funds could be used by the state for such things as upgrading stormwater drainage systems; upgrading roads, bridges and railroads; relocating, elevating or retrofitting sewage treatment plants and making energy efficient weatherization upgrades to public and private buildings.
Hashim, the Democratic senator from Windham County, said the reality is that severe weather patterns are here and will happen more frequently and become more damaging over time. Adapting and becoming more resilient costs money and Vermont has few options to pay for the damage.
“We can place the burden on Vermont taxpayers or we can keep our fingers crossed that the federal government will help us or we can have fossil fuel companies pay their fair share,” he said.
(Excerpt) Read more at apnews.com ...
They can’t.🤨
They just make it up as they go along.
Everybody in Vermont could pay the fossil fuel companies for each day that is warmer and they don't need as much energy to heat their houses, and any increase in farm production, because warmer days yield more hay and that means more milk from the dairy farms.
Same for the maple syrup industry, and the state of Vermont could pay the fossil fuel companies what would have been their savings on winter plowing and salting.
And as more people move to a warmer Vermont, the people who sell property should share their gains with the fossil fuel companies who improved the climate.
Whatever happened to “act of God”? That’s what insurance companies claim when a tree falls on your house, or lightning sets it on fire. Those are all weather-related damage.
Cut deliveries of goods to Vermont.
I notice they waited until after Winter to do this.
exactly ... vermont is a small market anyway ...
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