Vermont passes bill to charge fossil fuel companies for damages from climate change
NBCMAY 2024
Vermont to Charge Big Oil for Climate Damage
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The Spin
Narrative A
Fossil fuels contribute heavily to climate change, and the companies that benefit the most from this should be held accountable. Bills like this one are necessary for addressing the impacts of climate change and providing much-needed financial resources for affected communities by ensuring they are contributing fairly to the costs of mitigation and adaptation measures.
Narrative B
While extreme weather events have caused unprecedented damage, bills like this may not successfully raise the funds needed to pay for repairs and mitigation efforts. Instead, the state could be overwhelmed with legal efforts and fees needed to defend and enforce the legislation. Additionally, requiring companies to pay for damages unrelated to their negligence may be unconstitutional.