Connect with us

Northeast

Hochul signs bill that will charge oil and gas firms $75B, but critics say customers will really foot the tab

Published

on

Hochul signs bill that will charge oil and gas firms B, but critics say customers will really foot the tab

Today New York Governor Kathy Hochul signed into law the Climate Change Superfund Act, which will charge oil and gas firms an estimated $75 billion over the next 25 years. The controversial measure, sponsored by Senator Liz Krueger and Assembly Member Jeffrey Dinowitz, is modeled on federal and state superfund laws, which charge firms accused of pollution.

While environmental groups heralded the legislation, business groups argued that it will increase the cost of doing business in the state and that consumers will ultimately bear the brunt in terms of higher energy prices.

WHAT COULD HAPPEN TO GAS PRICES IF BIDEN ISSUES NEW SANCTIONS AGAINST RUSSIAN ENERGY SECTOR?

New York Governor Kathy Hochul (Lev Radin/Pacific Press/LightRocket via Getty Images)

“The Climate Change Superfund Act is now law,” said Senator Krueger. “Too often over the last decade, courts have dismissed lawsuits against the oil and gas industry by saying that the issue of climate culpability should be decided by legislatures. Well, the Legislature of the State of New York – the 10th largest economy in the world – has accepted the invitation, and I hope we have made ourselves very clear: the planet’s largest climate polluters bear a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences.”

Advertisement

However, critics have deemed the bill impractical and contend that it will be subject to protracted legal challenges.

“What would you have them do? Not sell fuel in New York State,” said Ken Pokalsky, vice president of the New York State Business Council. 

New York State Sen. Liz Krueger, D-Manhattan. (Getty)

A group of business and industry leaders also lambasted the measure: “This legislation is bad public policy that raises significant implementation questions and constitutional concerns. Moreover, its $75 billion price tag will result in unintended consequences and increased costs for households and businesses.”

However, Gov. Hochul heralded the legislation as a victory for the state’s citizens, stating that the funds will be used for climate mitigation efforts.

Advertisement

“This bill would allow the state to recoup $75 billion from major polluters…For too long New Yorkers have borne the costs of the climate crisis, which is impacting every part of the state.”

The bill will result in significant assessments for both domestic and foreign energy producers, with Saudi Aramco of Saudi Arabia likely facing the largest charge at $640 million a year, while state-owned Mexican firm Pemex will be looking at a $193 million annual charge.

Russia’s Lukoil will likely face charges of around $100 million per year.

The assessments are based on estimated yearly CO2 emissions, measured in millions of tons of greenhouse gases.

Advertisement

In total, 38 firms deemed carbon polluters will be on the hook, including American oil giants Exxon and Chevron, the UK’s Shell and BP, and Brazil’s Petrobras.

Critics of the legislation have also noted the potential difficulty in collecting the stipulated assessments from foreign firms.

 

The bill is also concerning consumer advocacy groups in light of its implementation in conjunction with other new measures which stand to greatly affect commuters and consumers:

“We also note this measure would come on the heels of the reinstatement of congestion pricing in New York City, and in advance of the Environmental Department’s pending `cap and invest’ rule, which combined will also impose billions of dollars in new assessments on fossil fuel usage, impacting a wide range of consumers,” stated bill opponents.

Advertisement

Read the full article from Here

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Northeast

Pennsylvania state trooper fatally shot during traffic stop, officials say

Published

on

Pennsylvania state trooper fatally shot during traffic stop, officials say

NEWYou can now listen to Fox News articles!

A Pennsylvania state trooper was shot and killed on Sunday night while conducting a traffic stop in Chester County, according to officials.

The shooting happened in West Caln Township shortly after 9 p.m. during a traffic stop near Compass and Michael roads.

Gov. Josh Shapiro announced that the trooper, identified as Timothy O’Connor, died from the shooting.

PENNSYLVANIA BUS DRIVER CHARGED WITH ENDANGERING DOZENS OF ELEMENTARY STUDENTS WHILE INTOXICATED

Advertisement

L-R: Aerial footage of hospital; Corporal Timothy J. O’Connor Jr. (WTXF; PA State Police)

“I am profoundly saddened to announce that tonight, Pennsylvania State Police family lost a son, lost a hero, and lost a dedicated public servant,” Shapiro said at a press briefing.

“Corporal Timothy O’Connor is killed tonight doing what he’s dedicated his life to. And that is serving others, keeping our community safe, looking out for his fellow Pennsylvanians, especially right here in Chester County,” he continued. “Our entire Commonwealth, State Police family, Chester County, are mourning the loss of Corporal O’Connor.”

The governor added: “He died protecting others, and that is a noble calling. That is something we are profoundly grateful for tonight.”

The shooting happened in West Caln Township shortly after 9 p.m. during a traffic stop near Compass and Michael roads. (Pennsylvania State Police)

Advertisement

Police “put their lives on the line every single day to protect us, to look after us, to ensure our well-being,” Shapiro said. “That’s what Tim was doing tonight. I hope that the good people of Pennsylvania take a moment to appreciate all who put on a uniform, especially the uniform of the Pennsylvania State Police, and go out every day to look after us, do a lot every day and run into danger to keep the rest of us safe.”

Shapiro said flags in Pennsylvania will be flown at half-staff on Monday in honor of O’Connor.

MINNESOTA POLICE SERGEANT, FATHER OF TWO, DIES SUDDENLY AFTER BRAIN INFECTION

Gov. Josh Shapiro said flags in Pennsylvania will be flown at half-staff on Monday. (Gilbert Carrasquillo/GC Images)

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Advertisement

Chester County Commissioner Eric Roe also said he was praying for the trooper.

“Chester County’s brave police officers put their lives on the line for us every day. I thank all of them for their extraordinary bravery and sacrifice,” Roe said on Facebook.

Read the full article from Here

Continue Reading

Boston, MA

Boston Police Blotter: Southie pub brawl leads to alleged stabbing

Published

on

Boston Police Blotter: Southie pub brawl leads to alleged stabbing


Two people were stabbed following an alleged bar brawl in Southie over the weekend.

According to a police report, officers arrived at Tom English’s around 10:30 p.m., Friday for a report of a fight. When they arrived on the scene, a victim told police that he was sucker punched during a fight and pointed out a person who was the “main aggressor” throughout the incident.

The suspect was pat frisked by police, but the report said they did not find any weapons. “The suspect stated that he was jumped [by the party of the victim,” the report said. “The suspect refused to cooperate any further after repeated attempts by officers to get his version of events.”

Both the suspect and victim declined EMS.

Advertisement

Then about an hour later, three more victims arrived at a nearby police station to report that two of them had been stabbed in the fight at Tom English. One of the unnamed victims said that the fight started after the suspect kept moving coins he put down to play pool. The suspect, according to one of the other victims, told them to meet him outside.

All parties were kicked out by a bouncer and “a large brawl ensued,” the report said. The victims told police that that suspect brandished a knife and the victims said they “fled the scene on foot fearing for their lives.”

In the report, police noted that they saw wounds on two of the victims. EMS was called to treat them.

BPD did not confirm whether the suspect was arrested.

Fireworks call leads to firearm recovery in Mattapan

Reports of fireworks led Boston Police to recover a firearm Monday night in Mattapan.

Advertisement

Officers responded to the area around Callender Street at about 10 p.m. for a call of shots fire, but a supervisor alerted them that individuals were shooting off fireworks.

When police got to the scene, they said they saw a group of people standing near a car that had several packages of fireworks. As officers approached, one man started to sprint towards Blue Hill Ave., throwing a jacket off as he ran, according to BPD.

Multiple officers responded to detain the suspect and a pat frisk of the jacket uncovered a ghost gun with 7 rounds in the magazine, police said.

Kahnari White, 24, of Mattapan was charged with carrying a loaded firearm without a license, carrying a firearm without a license, possession of a firearm without an FID card, and possession of a large capacity feeding device.

While the foot pursuit and arrest of White unfolded, police said the group standing with the fireworks began to become “hostile and threatening to an officer who remained with them on scene.”

Advertisement

One person allegedly continued to threaten an officer and bumped him on the chest as more officers arrived.

“Multiple de-escalation tactics were attempted, but the suspect continued to threaten officers,” Boston police said in a statement.

Eventually, officers were able to detain Sean Galvez, 40, of Quincy. Galvez was arrested and charged with disorderly conduct, resisting arrest, and assault and battery on a police officer.

Both suspects are expected to be arraigned at Dorchester District Court.

Gun recovered after foot chase in Dorchester

A 22-year-old from Dorchester was arrested on gun charges after police said they approached the suspect for drinking in public Monday night.

Advertisement

Officers saw a group on Draper St. drinking publicly around 8:30 p.m., and when they approached them, one individual started to walk away.

“When officers advised the male that he could not be drinking alcohol in public, he fled on foot,” Boston Police said in a statement. “A foot pursuit ensued, and officers stopped the suspect.”

Police recovered a Smith and Wesson M&P Bodyguard .380 with nine rounds in the magazine during a pat frisk and said that the serial number on the gun was defaced.

Denilson Pires was arrested and charged with carrying a firearm without a license, possession of ammunition without an FID card, and defacing a firearm serial number.

He is expected to be arraigned at Dorchester District Court.

Advertisement



Source link

Continue Reading

Pittsburg, PA

Steelers Add Year to Cam Heyward’s Contract, Creating Cap Space

Published

on

Steelers Add Year to Cam Heyward’s Contract, Creating Cap Space


The Pittsburgh Steelers finally have some clarity on Cameron Heyward’s short-term future with the team.

According to the Pittsburgh Post-Gazette’s Gerry Dulac, the Steelers have added an extra year to Heyward’s deal. As a result, they freed up right around $5.5 million in cap space.

Heyward’s contract is now worth $32.25 million across two seasons, though only the first of those two years is guaranteed.

The reigning second-team All-Pro previously had one year left on his contract, which carried a cap hit of $19.150 million.

Advertisement

Heyward’s deal was a source of contention during training camp last summer, as the 15-year veteran looked to negotiate his contract after previously having agreed to a two-year, $29 million extension leading into the 2024 campaign.

Advertisement

Nov 23, 2025; Chicago, Illinois, USA; Pittsburgh Steelers defensive tackle Cameron Heyward (97) against the Chicago Bears during the second half at Soldier Field. Mandatory Credit: Mike Dinovo-Imagn Images | Mike Dinovo-Imagn Images

The 36-year-old, who was a first-team All-Pro that year, later compromised with Pittsburgh after it added a little over $3 million in incentives to his contract before Week 1 of the 2025 season.

Advertisement

Over 17 games, Heyward recorded a total of 3.5 sacks and 78 tackles with a forced fumble.

Advertisement

With it appearing set in stone that he’ll return for the 2026 season after agreeing to his modified deal, the question now becomes whether or not Heyward will play out the duration of his contract through 2027.

What Could Steelers Do with Extra Money?

Pittsburgh was rather active both shortly before and immediately after the legal tampering period began, re-signing cornerback Asante Samuel Jr. and linebacker Cole Holcomb while also signing former Tampa Bay Buccaneers corner Jamel Dean and acquiring wide receiver Michael Pittman Jr. via trade from the Indianapolis Colts, whom it immediately inked to a three-year, $59 million extension.

Advertisement

It’s been a bit quiet for the Steelers since that initial wave, however, with punter Cameron Johnston representing their only move on the second day of free agency.

Advertisement

There’s still plenty of names out there on the open market, and with needs remaining along the offensive line, at safety and receiver even after adding Pittman Jr., the action shouldn’t stop for Pittsburgh.

While quarterback remains the most substantial question mark for the Steelers on paper, the widespread assumption remains that Aaron Rodgers will eventually return to the franchise. When that decision will, or could, become official, though, is anyone’s best guess at the moment.

The money Pittsburgh saved by revising Heyward’s contract could help fill out its roster not only through free agency, but also via the 2026 NFL Draft now that it has 12 picks at its disposal upon being awarded four compensatory selections.

Subscribe to our FREE Newsletter for the latest news and updates on the Pittsburgh Steelers

Advertisement





Source link

Continue Reading

Trending