New York is at it again. The liberal state is “saving” the environment with a new measure that is motivated by unproven science and political posturing.
New York’s Climate Change Superfund Act, signed by Governor Kathy Hochul, exemplifies the punitive policies associated with fossil fuel use. It will presumably collect $75 billion from energy companies over 25 years.
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The state will impose taxes on these companies based on their “historic emissions of greenhouse gases.” Astonishingly, the law does not consider whether those emissions occurred within New York’s borders.
New York isn’t alone in making such moves. Vermont passed a similar law in July 2024, and legislators in California, Maryland, Massachusetts and New Jersey are working on comparable bills of their own.
Unjust, Unfair and Unworkable
This flawed framework is unjust because it holds utilities that burn fossil fuels accountable for past actions that were not only legal but demanded by policymakers and consumers at the time. These punitive taxes will penalize the very people that New York politicians feign to help.
The policy will also punish producers who provide energy security and stability. New York’s misguided virtue signaling has replaced practical and balanced policymaking.
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As a result, New York consumers will face higher costs, while electric companies will generate less. Indeed, utility companies have no option but to transfer these costs to consumers. Con Edison, which serves New York City and its suburbs, is proposing rate increases that would raise electric bills by 11.4 percent and gas bills by 13.3 percent.
An Increasing Burden
New Yorkers already contend with some of the highest utility rates in the nation. These incremental increases represent more than just another fee; they underscore a fragile system that compels citizens to bear the costs of flawed climate policies.
The state plans to use the tax money collected to upgrade infrastructure for electrified buildings, protect its coasts, conduct flood mitigation projects, construct energy-efficient structures, and install EV charging stations. Stringent green mandates make all these measures necessary.
New York bureaucrats have complicated the situation by prohibiting gas hookups in new buildings. As a result, all appliances in these structures must be electric. This decision puts immense strain on an electric grid already operating at capacity.
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Complicating the situation further is the premature shutdown of the Indian Point Energy Center in Buchanan, New York. This clean-energy nuclear facility once supplied a quarter of New York City’s power. The shutdown had nothing to do with the facility being obsolete or unsafe. Instead, it stemmed from a campaign promise made by then-Governor Andrew Cuomo in response to anti-nuclear activists.
Taking the facility offline increased New Yorkers’ already heavy reliance on imported fossil fuels. This foolishly optimistic action further drove up costs, highlighting the harsh hypocrisy of advocates for supposedly green power.
Unattainable “Green” Goals
Despite these severe penalties, many states, including New York, still rely heavily on natural gas, oil, and coal to power their industrial infrastructure. Punishing utility companies increases costs, diminishes reliability, restricts growth, and offers no viable alternatives.
Further punishing them for climate changes that are difficult to quantify only exacerbates the unfairness. It suggests more of an agenda than a science-driven program.
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The Green agenda is also hindered by renewable energy’s inability to meet demand. Renewables like hydropower comprise less than one-third of New York’s energy mix. Nevertheless, the state has set a goal to generate seventy percent of its energy from renewable sources by 2030.
This overly ambitious target is proving to be a pipe dream. Rising project expenses recently led to the cancellation of several offshore wind power contracts. At the same time, the construction costs of the Quebec hydropower line, which was set to power New York City, have ballooned to a staggering $6 billion.
Counting the Political and Economic Costs
Now more than ever, it is time to consider whether the costs of these policies are worth the results they promise.
Rather than relying on ineffective taxes, policymakers should embrace a pragmatic approach prioritizing affordability and innovation over punitive measures. Such a program could include reasonable solutions for renewable energy.
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It is also time for consumers to demand accountability and practicality in climate policy from our liberal policymakers. Real change requires thoughtful collaboration and planning, not hasty virtue signaling. Authentic progress cannot come at an unmanageable cost.
Furthermore, it is crucial to scrutinize the science behind the policies. If the evidence of an anthropogenic climate crisis remains debatable, placing such a weighty financial burden on society is nothing short of criminal.
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