Hochul signs bill that will charge oil and gas firms $75B, but critics say customers will really foot the tab

New York Governor Kathy Hochul signed the Climate Change Superfund Act, charging oil and gas firms $75 billion over 25 years, causing controversy between environmental and business groups. While proponents argue that major polluters should pay for climate crisis impacts, critics question the practicality and legality of the bill. The legislation will result in significant charges for domestic and foreign energy producers like Saudi Aramco and Exxon, aiming to fund climate mitigation efforts in the state.

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