The fossil fuel industry contributes to 75% of greenhouse gas emissions yearly while raking in billions of dollars. Now, as climate change ravages the U.S from California to New York, Congress says it’s time to make them pay.
You make a mess. You clean it up. It’s a fundamental principle we learn as kids. Yet, as adults, and especially when it comes to the climate crisis, those making the biggest messes aren’t cleaning it up. Instead, they’re raking in the biggest profits while society suffers the effects- extreme weather conditions, microplastics, and worsening air quality. The fossil fuel industry- coal, oil, and gas- contribute to 75% of greenhouse gas emissions and nearly 90% of CO2 emissions. Yet, as the world hit a landmark having the hottest year on record, the fossil fuel industry racked in tens of billions of dollars. Calling out this injustice is U.S Congresswoman Judy Chu and other state representatives demanding that the fossil fuel industry pay and clean up their mess when it comes to climate change in California and across the country.
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“The fossil fuel corporations responsible for worsening the climate crisis continue to reap massive profits while assuming none of the cost for the harmful emissions they produce, leaving taxpayers on the hook to pay the price,” Rep Chu said in a press release. “It’s past time for these corporations to pay their fair share and help fund our work to address the climate catastrophe they helped create, so we’re introducing the Polluters Pay Climate Fund Act to hold them accountable.”
What Is The Polluters Pay Climate Fund Act?
On September 12th, 2024, Representatives Judy Chu (CA-28) Jerry Nadler (NY-12) joined Sen. Chris Van Hollen (MD) to introduce the legislation that would require the biggest corporate polluters to begin paying their fair share to confront the climate crisis.
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The Polluters Pay Climate Fund Act requires the largest U.S.-based fossil fuel extractors and oil refiners and foreign-owned companies doing business in the U.S. to pay into a $1 trillion Polluters Pay Climate Fund, with their contributions based on a percentage of their global emissions. Under the plan, these corporations would be expected to pay around $5 billion annually, based on their share of total emissions. The Fund would then be used to finance a wide range of efforts to tackle the impacts of climate change including programs to transition to clean energy and build infrastractures to help mitigate the impact climate change will (and is having) on our cities.
Why The Fossil Fuel Industry Should Pay
In a statement for the bill, Rep. Nadler pointed out that the fossil fuel industry has been covering up and lobbying against climate action for decades. “For over 60 years, the fossil fuel industry has been fully aware of its role in driving the climate crisis. Despite this, the industry has done little to nothing to address the harmful effects,” said Rep. Nadler. “Instead, American taxpayers have been unfairly burdened with the costs of mitigating the destructive effects of the climate crisis.”
In 1959, the physicist Edward Teller warned the industry about global warming at the the centennial of the American oil industry. Investigations show that companies like Exxon, were warned about the the impacts of CO2 emissions and a warming planet from their own team of scientists as early as 1977. Even so, the company spent the next several decades denying climate science. Shell also knew about global warming and its consequences when the company was given a report on a study in 1986.
“It is long past time for our nation to prioritize the health and well-being of our communities over the interests of the fossil fuel industry. That’s why I’m proud… to finally force the fossil fuel industry to pay its fair share to address the damage it has inflicted on our planet, and help the American people tackle this crisis head-on,” Rep. Nadler stated.
How You Can Support The Polluters Pay Fund Act
As consumers we can reduce driving, support sustainable brands, and recycle all in an effort to reduce our environmental footprint. Yet, our impact is miniscule compared to the billions of tons of fossil fuels and coal burned each year. The biggest polluters must take responsibility and bills like this one are one way to ensure they clean up their act. While we’re not the ones writing the bill, we can support it, write to our House Representatives about it, and build momentum around the bill to ensure that big oil companies pay for the climate crisis they created.
The bill is cosponsored by several House and State Reps. including Becca Balint (VT-AL), Raúl Grijalva (AZ-07), Eleanor Holmes Norton (DC-AL), Jonathan Jackson (IL-01), Summer Lee (PA-12), Alexandria Ocasio-Cortez (NY-14), Delia Ramirez (IL-03), Bernie Sanders (VT), and Elizabeth Warren (MA).
*You can read the full list of cosponsors here. If you don’t see your Representative you can find and contact your House Representative here or Senator here.
“Right now, wildfires are raging in and around my district in Southern California due to yet another year of record-breaking heat and… extreme weather disasters devastate communities around the country,” said Rep. Chu. “It’s way past time for polluters to clean up the disastrous damage they’ve done to our health, wildlife and the climate,” said Ben Goloff, climate strategist at the Center for Biological Diversity Action Fund. “Enough of their raking in record profits at the public’s expense. It’s just basic fairness to hold polluters, not taxpayers, accountable for the cleanup bill.”