Vermont’s Republican governor has allowed the state to become the first to require oil companies to pay for “costs associated with climate change” without his signature, pushing the law through despite his hesitation about the policy.
Read More: Breitbart
Only two states are committed to the Transportation and Climate Initiative. The Carbon-Tax, aimed at seeing a reduction of Carbon Dioxide emissions, would require jurisdictions to buy energy allowances for CO2 emissions. The volume of allowances would decrease each year, hence suppliers will pay more annually for emissions.
Proponents hope the scheme will reduce greenhouse gas emissions by 26%, whilst generating $3 billion in revenue.
Read More: Fox News