Oil Giants Could Owe N.J. $50B for Pollution — But the Industry Says it’s a Crazy Cash Grab

A bill introduced in the state Legislature would require fossil fuel companies to pay billions of dollars for pollution in New Jersey, but the proposal is drawing stiff opposition from business groups.

The measure, S2338/A3735, would require fossil fuel companies to make retroactive payments to the state to help cover the cost of infrastructure improvements tied to climate change.