Oil and gas companies could be on the hook for billions of dollars to compensate for environmental pollution after Gov. Kathy Hochul on Thursday signed the Climate Change Superfund Act, a long-cherished priority for advocates who blame global warming on fossil fuels.

The Climate Change Superfund Act imposes a total of $3 billion a year in fees to the largest oil and gas firms.

Kathy Hochul on Thursday approved the Legislature’s bill to require major polluters who have contributed to global warming to pay $75 billion for repairs from superstorms and other remediation forced by climate change that has so far been paid by taxpayers.

New York Gov. Kathy Hochul (D) on Thursday signed a law that will require companies responsible for large amounts of planet-warming pollution to contribute to climate damage repair efforts. Under

Gov. Kathy Hochul signed a law on Thursday that requires fossil fuel companies to pay billions for their role in the climate crisis. The move makes New York the second state in the U.S. to hold oil manufacturers accountable for supporting projects that protect against the damages of floods, hurricanes and other climate disasters.

Humbug! New York Gov. Kathy Hochul is under fire for making scores of eyebrow-raising vetoes as 2024 ends – including giving a thumbs down to legislation that would ensure greater transparency to emergency government contracts.