NJ Assembly panel advances bill aimed at fining fossil fuel firms

An Assembly panel passed legislation directing oil firms to pay New Jersey $50 billion for climate harms. Critics say consumers would end up paying.

By: Nikita Biryukov

Outlets: New Jersey Monitor

Published: June 4, 2026

Words: 673

Last Updated: 1 month, 1 week ago

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Some New Jersey companies that extracted fossil fuels over a 20-year period would be ordered to pay the state $50 billion to make up for climate harms under a bill advanced by an Assembly panel Thursday.

The Assembly’s environment committee advanced the newly renamed “Polluters Pay to Make New Jersey Affordable Act” in a party-line vote to cheers from environmentalists and doomsaying from business groups that warned oil firms would pass those …

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