New York's Climate Law: A $75 Billion Price Tag for Fossil Fuel Giants
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New York has taken bold steps to combat climate change with a new law that will fine fossil fuel companies up to $75 billion over the next 25 years. The law, signed by Governor Kathy Hochul, aims to hold oil, gas and coal companies accountable for their role in greenhouse gas emissions. The fines will fund projects to strengthen the state’s infrastructure against severe weather caused by climate change.
While the law is widely praised for its environmental focus, critics argue that consumers may ultimately bear the cost. The move has sparked intense debate across the state, with implications for the economy and climate action.
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