NY’s Tax, Cap & Spend Climate Law Will Ration Fossil Fuels
New York's "cap and invest" Climate Act law effectively rations fossil fuels while taxing them heavily. The system limits fuel sales through caps and requires distributors to buy allowances, passing costs on to consumers. With a mandated 30% emissions reduction by 2030, the Climate Act will cause dangerous shortages of essentials such as fuel oil and natural gas for heating and gasoline for transportation. There is a real danger that households will run out of heating fuel during cold winters. Even Gov. Hochul is now criticizing the law as "infeasible." Capping the state's main energy sources is an impractical and ruinous strategy that threatens the state's standard of living.To view this content, log into your member account. (Not a member? Join Today!)