Some states are now fining fossil fuel companies billions—not for breaking the law, but for selling energy legally … DECADES AGO.
That won’t help climate change, but it will make EVERYTHING cost more.
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In New York, energy companies will have to pay $75 billion for carbon emissions dating back to the year 2000.
The politicians say, “These companies were polluting! They should have to pay!”
But who really pays? You will.
Extra costs for energy companies just get passed on to consumers via higher prices.
And these taxes won’t even reduce climate change.
As Travis Fisher, Energy Director at the Cato Institute, explains, “If New York stopped using fossil fuels altogether what impact would that have on the global climate? And the answer really is zero.”
What will they accomplish? They’re really just an easy way for states to make money–and a way to make fossil fuels more expensive.
“They’re coming after everyone’s lifestyle that’s only made possible by fossil fuels,” concludes Fisher, “It’s a shame because … we could be so prosperous, so much more prosperous than we are.”