Lunatic NY Lawmakers Pressure Gov to Sign Bill Charging O&G $75B
We're forced to report on a bill in New York State that is so stupid, it's beyond words. We'll do our best. The Democrats in the NY legislature passed a bill earlier this year that would create a "superfund" (big old pot of money) to be fed by slapping an illegal tax/fee on oil and gas corporations. The fee is to "pay back" the state for causing mythical global warming. (Create a mythical problem out of nothing, then create a faux cause of that problem --- burning fossil fuels --- in order to justify shaking down specific companies.) The NY bill would extract an astonishing $75 billion over the next 25 years --- roughly $3 billion a year. It will never happen (never work) because O&G companies will fight it in court for years to come, but perhaps that is the point: to tie up O&G in court and encourage them to leave the state. You see, NY is closed for business.
To view this content, log into your member account. (Not a member? Join Today!)