Let’s discuss a bill signed by NY Gov. Kathy Hochul and what it really means.
Taxing America for Climate Change
The Wall Street Journal reports New York Will Now Tax America for Climate Change
Gov. Kathy Hochul on Thursday signed legislation that will require fossil-fuel producers to pay $75 billion to supposedly help the state adapt to climate change. “This landmark legislation shifts the cost of climate adaptation from everyday New Yorkers to the fossil fuel companies most responsible for the pollution,” Ms. Hochul’s office declared.
Under the program, bureaucrats will apportion responsibility for climate change among some three dozen companies that have sold fossil fuels in the state based on their global CO2 emissions from 2000 to 2018.
The law says this money could pay for “upgrades to roads, bridges, subways and transit systems,” “preventive health care programs,” “upgrading parts of the electrical grid” and “weatherization and energy efficiency upgrades” in buildings. Project contractors will have to pay inflated union prevailing wages.
Upgrading New York City’s sewer system to “deal with regularly-occurring large rain events is estimated to cost around $100 billion,” the law notes.
Implied Admissions
The top implied admission is New York is both broke and desperate.
Its sewer system is a disaster due to the 1-2-3 combination of lack of maintenance, population growth, and ridiculous union contracts the state can no longer afford.
Since the state is broke and people leave every time it raises taxes, Hochul has opted for a political stunt that the courts will undoubtedly strike down.
In 2021, the Second Circuit Court of Appeals dismissed a New York City lawsuit seeking to hold fossil-fuel producers liable for their alleged climate impact.
The court held that state tort law could not be used “to hold multinational oil companies liable for the damages caused by global greenhouse gas emissions,” so the new ploy is to tax only US producers.
Mish Suggestion
The US energy producers should stop sending gasoline, heating oil, and natural gas to the state.
That’s a sarcastic suggestion rather than a real one, but it does show a point.
Where would New York be without gasoline, heating oil, natural gas, asphalt, concrete, steel, agriculture, and everything else that needs energy (literally everything)?
This stunt by the New York Governor is headed for the ashcan, where it belongs.
The Cost of Biden’s Energy Policies Up by $466 Billion
Earlier this year, the Congressional Budget Office too another look at Biden’s Inflation Reduction Act .
Guess what. The CBO Revised the Cost of Biden’s Energy Policies Up by $466 Billion
The cost estimate of Biden’s Inflation Reduction Act coupled with EPA mandates, just jumped by $466 billion.
A Blue State Exodus
Meanwhile please note A Blue State Exodus: Who Can Afford to Be a Liberal?
Is the blue state exodus from California, New York, and Illinois making red states like Florida, Texas, and South Carolina more liberal? Studies suggest the answer is no.
Let’s check in on Illinois.
When Do Mayor Brandon Johnson and the City of Chicago Finally Implode?
On November 25, I asked When Do Mayor Brandon Johnson and the City of Chicago Finally Implode?
Chicago slashed 2,103 public safety job but added 184 administrators. The budget deficit is nearly $1 billion.
It’s Hopeless
Despite the massive stock market boom, the Chicago Firefighters pension is only 21.6 percent funded.
Police is 31.1 percent funded. The Teachers’ pension is only 43.4 percent funded.
Back at the national level, please see my August 26, 2023 report on The Shocking Truth About Biden’s Proposed Energy Fuel Standards
Here is the NHTSA’s bottom line: “Net benefits for passenger cars remain negative across alternatives” vs doing nothing at all.
Costs are always much greater than expected, and in this case we are already starting from a negative benefit.
“We no longer recognize your authority”. Coming soon to a Federal/State/Government soon from We The People. Guaranteed. We’ll do whatever the hell we want and we will seize your stolen assets. Taxation/Regulation without Representation.
They should include farmers in the suit since they also sell products that folks convert into greenhouse gases.
Naturally. Lest they incur liability or penalties.
See how long NY lasts.
Wouldn’t NY have to prove a lot of things about climate change that are not settled?
What parts of climate science are not settled yet? The science is 200 years old and getting better all the time.
Well for one, whether or not humans are causing a significant part of the change.
That is already well established by the science.
1. We know that CO2 levels are increasing in the atmosphere because we measure these levels daily. CO2 has increased from 280 ppm to over 420 ppm in the last 200 years.
2. We know that the additional CO2 comes from burning fossil fuels because of the different isotopes of carbon that are present in fossil fuels. They are like a telltale fingerprint.
3. We know that nature can cause increases in CO2 as well, but those natural changes occur at much slower rates, and there is no sign that this is occurring when we look at the isotopes of carbon in the atmosphere.
4. We have known for over 150 years that greenhouse gasses (like CO2) help keep our planet much warmer than it would be without them. Without them, our planet would be a frozen ball of ice. So they are certainly necessary for life to thrive on earth. But as the levels keep increasing because of our emissions, they are warming the planet much more than we have seen for the last few million years. And we are also warming the planet much faster than nature would do it.
For most of geological history, carbon dioxide levels were perhaps ten times higher than today’s value of about 420ppm.
In that time, ice ages came and went, and at one point the Arctic was tropical.
Carbon dioxed was not responsible. Today’s value is geologically very low.
Yes. Science tell us that CO2 levels have been much higher and lower in the distant past. And when they were high, the planet was hot. When they were low, the planet was cold.
700 million years ago, during the Cyrogenian period, CO2 levels were around 100 ppm and earth was a frozen ball of ice. Average temperatures were as cold as -20C.
500 million years ago, during the Cambrian period, CO2 levels were 4000 ppm, and average temperatures were 10C warmer than today.
These are scientific facts you can easily look up. And yes, the major factor is CO2.
The earth is fortunate to have an atmosphere because of it’s size and magnetic field. We are also fortunate our atmosphere contains greenhouse gasses like CO2. Without those greenhouse gasses, the average temperature of the planet would be -18C and there wouldn’t be much life as we know it. Thanks to greenhouse gasses, the average temperature is 15C, a 33C difference.
For the last 10,000 years, which is essentially the history of modern man, CO2 levels were a steady 280 ppm. A very steady and stable period.
I have settled in far upstate NY prob for good. At age 72, pensionless and with SS income well under 1K/mo, I consider myself semi retired. I am an occaisional gig worker always for cash, with several rare skills. Every enterprise I have had that got going good up here has been squashed by this stupid state. They even condemned my old car which ran perfectly. I am happy to take whatever dole they give, because they still actually owe me for the needless losses they have incurred on me. They are generous in that because what I do take is very small compared to almost all of the useless people, and they don’t mind that I have time to help a lot of helpless folks around me and never ask for more.
New York State shamelessly creates yet another regressive income transfer program to benefit government and Wall Street, at the expense of the working and middle classes under the guise of climate change. There is seemingly no limit to the moral, ethical and intellectual depravity of the ruling elites who punish the productivity of those poor saps on the production floor of society, who have the temerity to convert fossil fuels into goods and services. Meanwhile these same elites judging by their lifestyles care nothing of anthropogenic levels of carbon dioxide in the atmosphere, but rather just their own limitless opportunity for grift.
I am a farmer on the other side of country from NY. At its most fundamental level agriculture is a process of converting fossil fuels (carbon) into food (more carbon). I am not in the least concerned with climate change, global warming or increasing the negligible percentage of CO2 in the atmosphere. Insufficient CO2 or global cooling, now that may be cause for concern.
English chemistry major?
Great post!
THANKS.
steve, Thank you for your kind words. I wish you good fortune!
First: thanks for being a farmer and helping to feed mankind. And I have good news for you.
Man began agriculture 10,000 years ago.
The success of this endeavour allowed mankind to flourish. Our population increased from 1 million then, to 8 billion today. Thank you farmers.
During that entire period of great agricultural success, CO2 levels were a remarkably stable 280 ppm. The crops and plants thrived at that level.
In the last 200 years, our emissions have raised CO2 levels by 50%, from 280 ppm to over 420 ppm. In isolation, more CO2 promotes more plant growth, but as a farmer, you are well aware that there are many other factors to take into account to grow a successful crop. For example, too little water, or too much water can ruin a crop, no matter what the CO2 levels are.
The good news is that you do not need to worry about CO2 levels dropping back to 280 ppm (or lower) for the rest of your lifetime. While mankind is good at pumping out CO2, we are not very good at removing it. Nature can remove it, but the natural processes take many thousands of years. So we are stuck with these high CO2 levels for the next 10,000 years or longer. Unless we can figure out a cheap and faster way to remove it ourselves.
And since we are still pumping out more CO2 each year, CO2 levels will keep rising. At current levels of emissions, CO2 levels are increasing by 2.68 ppm per year (vs 1 ppm in the 1960s). With no change in emissions, that means CO2 levels will approach 500 ppm by 2050 and over 600 ppm by 2100.
More good news: There is no need to worry about the temperatures getting cooler. For the planet to get cooler, it requires CO2 levels much lower than 280 ppm. Which happens naturally every 100,000 years or so. In the last million years there have been 10 time periods when CO2 levels dropped to 180 ppm. Each time this happened there was a mile of ice over the state of New York. These natural cooling cycles (Milankovitch) are well known. They take place over 80,000 years and lower CO2 from 280 ppm to 180 ppm. They are followed by 20,000 year warming cycles, where CO2 increases from 180 ppm to 280 ppm, the earth warms, and the ice melts. The science is well known.
And even more good news. During the last million years, when CO2 levels reached as low as 180 ppm, many times, the plants still managed to survive and grow again when the planet warmed up.
So you have nothing to worry about. CO2 levels will keep rising; the planet will keep warming; and you can focus your attention on all the other crop inputs that are needed for success.
I hope that helps ease your mind.
And by we i’m sure you mean mostly China…who doesn’t care a hill o beans of doing a thing about it.
The world’s 3 largest emitters are the 3 countries with the largest populations, of course.
China is currently the biggest emitter. Close to 33% of world emissions with 18% of world population.
The US is number 2, at close to 13% of all emissions with just 4% of world population. We still emit a lot, per capita.
India is third at 7% of all emissions, with 18% of world population.
Both US and Chinese emissions are peaking, but poorer countries like India are about to see dramatic increases as they grow their economies.
And those poorer countries are chaffing at the suggestion that they should limit their emissions, when they are already much lower than the wealthier countries, particularly on a per capita basis.
The reality, is that worldwide emissions will continue to rise, even if both China and the US begin to slightly lower theirs. As long as the world economies continue to grow, so will fossil fuel use grow, and so will emissions.
And at what growth rates have CO2 emissions grown from 2000 to 2023?
China +7,890 million tons
US -1,101 million tons
India +1,855 million tons and a population set to surpass China.
Point: U S isn’t going to be the problem child with these trajectories. (Other than indirectly by insatiable consumption of products produced by those countries)
This is typical green-left thinking. The fossil fuel companies are “to blame” for enabling the public to burn fossil fuels and put CO2 etc. into the atmosphere, “causing” climate change and “all sorts of bad affects.” – Let’s see how successful the state is in collecting the tax.
If the courts uphold it, see the lights go out and cold set in. For climate change purposes, it is not the more money needs to be spent that counts, it is the cessation of burning fossil fuels (or anything). As Peak Oilers like James Kunstler tell it, you can have a fossil free economy, but it will look like 300 or more years ago, and New York’s standard of living will look like 300+ years ago.
Hochul looks like a fossil herself.
Only the dumpster fire in Albany Governors office can save the planet by destroying the Empire State single handedly.
Wanna bet?
“The US energy producers should stop sending gasoline, heating oil, and natural gas to the state.”
IMHO, that’s not the solution. Kathy the H says that the problem is the pollution caused by the oil companies, so, to stop the pollution, stop the trucks and cars and trains and planes from operating in and over NY.
Of course they should stop the supply.
Lest they incur liability or penalties.
See how long NY lasts.
The corporations involved should double the price of fossil fuel products for NY, and pay the tax from extra revenue. The pollution in NY would drop like a stone due to exodus of population.
Just another way elites steal the citizens money. This one is more creative than others, basically stealing money from the taxpayers using energy companies as the middleman. The revenue will be laundered into the pockets of elites. As always, using manufactured crises. (How can one not be convinced that the U.S. Govt / proxies released Covid in Wuhan?)
That is what government has become. Boy howdy, does Luigi Mangione look like the biggest sucker in the history of the world.
This may be the dumbest policy in history
Indeed… tax the filthy poor! They have money they don’t deserve.
You are correct again president rat you give money to the poor and they go and blow it on food right away what a waste.
She needs to be sent to the ashcan as well.
After the court cases, the tax will be paid by corporations but wind up on NY consumers Watch for $6 gas in NY; about time CA had some competition. Data Centers, AI consumption and Chip Foundries are exempt because they (and only they) create jobs.
NY GDP (aka GSP) is >$2,000,000,000,000 … what’s another $75B for State largess?
Will any go to subway safety tho? Mass Transit is needed to transition to the WEF low-carbon vision but 1) if it isn’t safe, and 2) we cannot defend ourselves (Penny); I’ll stay home with foodstamps and ramen.
Just another reason to hate poloticians
Good try. But unlikely to be successful. If courts approved this, then every state and local government could follow suit.
It has taken two decades and $5 trillion in spending on renewables to reduce our dependence on fossil fuels from 83% of all energy to 82% of all energy consumed. And even though the % has declined by 1% , we still use MORE fossil fuels each year.
The more taxes that you place on fossil fuels, the more expensive you make them for all consumers. Including New York State.
Leftist logic. We have to kill the patient to save them.
The Covid so called vaccines as an examle.
As someone who:
lives in NYheats my house using fuel oilheats my water and cooks my food using propaneI AM REALLY LOOKING FORWARD TO MY EVEN-HIGHER BILLS
No, I did not vote for Hochul. Thanks for asking. Yes, I am on local Republican committees and am in Lawler’s district. So I’m not merely sitting on my ass and bitching.
But yes, I’m currently sitting on my ass and bitching.
Hi Mary Pat
Check back in more often. Best wishes.
God bless you Mary Pat
States like NY are showing their desperation for revenue using fake climate science as an excuse.
Fake climate “science” was always going to be the excuse to raise taxes and fees.
Climate science is very clear. Our emissions are raising greenhouse gas levels and warming the planet. The problem is that we can’t do much about it. As I mentioned earlier, $5 trillion spent on renewables in two decades has not yet reduced our use of fossil fuels. So our emissions will continue, the climate will continue to warm, the ice will continue to melt and sea levels will continue to rise. And the costs to our economy will continue to rise. Fortunately, the impacts today are relatively minor compared to what they will be by the end of the century.
Fuel companies in N.Y. should put all their Gas Stations up for sale and announce them all closing in 90 days. That will give drivers the message and create a massive flashback to these desperate N.Y. Politicians. Play fire with fire.
If the NY politicians as so concerned about green house gases impacting people’s health, than they should be concerned about excessive taxation affecting people’s health as the suffer trying to keep warm, feed themselves and keep a roof over their head, and work themselves to death trying to do so, Excessive taxation is imposed slavery.
Are any New York State government vehicles powered by gasoline or diesel?
I rest my case.
You just passed the NY State Bar exam.
Why wouldn’t the fossil fuel companies stop supplying New York? If upheld up in the courts could they just place on surcharge on NY? This is really getting insane. Are they going to increase taxes on junk food that Americans feast on and become obese costing the healthcare system dearly? We already have the worst health in the industrialized world and double the per capita health care costs.
Writs of attainder are unconstitutional. Nice try Kathy. No cigar.
So true. Let’s hope the US and NY have enough vestiges of rule of law still obtaining that justice will prevail. It certainly wasn’t evident in the lawfare against Trump, Juliani, Bannon, Navarro, J6 political protestors, et al.
The government’s desire for tax dollars is never ending