New Jersey proposes taxing oil firms to fund climate projects, facing support and opposition.

New Jersey is considering a bill to tax oil and gas companies to fund climate change projects, aiming to hold these companies accountable for environmental damage since 1995. Similar proposals are being considered in other states. Environmental advocates support the bill, while business groups oppose it, citing potential cost increases for consumers. The bill needs approval from both legislative houses before it goes to Governor Phil Murphy.

3 months ago
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