Will Big Oil pay for climate destruction? Grist Despite backlash, more states are considering laws to make Big Oil pay for climate change. As climate disasters strain state budgets, a growing number of lawmakers want fossil fuel companies to pay for damages caused by their greenhouse gas emissions.Last May, Vermont became the first state to pass a climate Superfund law. The concept is modeled after the 1980 federal Superfund law, which holds companies responsible for the costs of cleaning up their hazardous waste spills. The state-level climate version requires major oil and gas companies to pay for climate-related disaster and adaptation costs, based on their share of global greenhouse gas emissions over the past few decades. Vermont’s law passed after the state experienced torrential flooding in 2023. In December, New York became the second state to pass such a law. This year, 11 states, from California to Maine, have introduced their own climate Superfund bills. Momentum is growing even as Vermont and New York’s laws face legal challenges by fossil fuel companies, Republican-led states, and the Trump administration. Lawmakers and climate advocates told Grist that they always expected backlash, given the billions of dollars at stake for the oil and gas industry — but that states have no choice but to find ways to pay the enormous costs of protecting and repairing infrastructure in the face of increasing floods, wildfires, and other disasters. The opposition “emboldens our fight more,” said Maryland state delegate Adrian Boafo, who represents Prince George’s County and co-sponsored a climate Superfund bill that passed the state legislature in March. “It means that we have to do everything we can in Maryland to protect our citizens, because we can’t rely on the federal government in this moment.”
While the concept of a climate Superfund has been around for decades, it’s only in recent years that states have begun to seriously consider these laws. In Maryland, federal inaction on climate change and the growing burden of climate change on government budgets have led to a surge of interest, said Boafo. Cities and counties are getting hit with huge unexpected costs from damage to stormwater systems, streets, highways, and other public infrastructure. They’re also struggling to provide immediate disaster relief to residents and to prepare for future climate events. Maryland has faced at least $10 billion to $20 billion in disaster costs between 1980 and 2024, according to a recent state report. Meanwhile, up until now, governments, businesses, and individuals have borne 100 percent of these costs. “We realized that these big fossil fuel companies were, frankly, not paying their fair share for the climate crisis that they’ve caused,” Boafo said. Recent bills have also been spurred by increased sophistication in attribution science, said Martin Lockman, a climate law fellow at the Sabin Center for Climate Change Law at Columbia University.
Researchers are now able to use climate models to link extreme weather events to greenhouse gas emissions from specific companies. The field provides a quantitative way for governments to determine which oil and gas companies should pay for climate damages, and how much. Vermont’s law sets up a process for the government to first tally up the costs of climate harms in the state caused by the greenhouse gas emissions of major oil and gas companies between 1995 and 2024. The state will then determine how much of those costs each company is responsible for, invoice them accordingly, and devote the funds to climate infrastructure and resilience projects. New York’s law, by contrast, sets a funding target ahead of time by requiring certain fossil fuel companies to pay a total of $75 billion, or $3 billion per year over 25 years. The amount each company has to pay is proportionate to their share of global greenhouse gas emissions between 2000 and 2024. Both Vermont and New York’s laws apply only to companies that have emitted over 1 billion metric tons of greenhouse gas emissions over their respective covered periods. That would include Exxon Mobil, Shell, and other oil and gas giants.Maryland’s law is so far the only climate Superfund-related legislation to pass a state legislature this year, although Governor Wes Moore vetoed the measure late on Friday. The original draft of the bill would have required major fossil fuel companies to pay a one-time fee for their historic carbon emissions.
But over the course of the legislative session, the bill was amended to instead simply require a study on the cumulative costs of climate change in Maryland, to understand how much money an eventual program would need to raise. The study would be due by December 2026, at which point Maryland lawmakers would need to propose new legislation to actually implement a climate Superfund program.......read on https://grist.org/