A coalition of business and trade groups, including the US Chamber of Commerce and the American Petroleum Institute, is suing New York's Governor Hochul over a law that requires fossil fuel companies to pay $75 million for carbon emissions. They argue that the law is unconstitutional, illegal, and will ultimately lead to higher energy prices for consumers. The lawsuit points to federal preemption preventing New York from imposing such liability on energy producers, foreseeing unsubstantiated claims regarding the attribution of emissions to the state.
"This law is not only illegal and misguided, but it will likely increase the cost of energy, placing an unnecessary burden on New Yorkers and consumers nationwide - especially during a time of already high prices," Marty Durbin advised.
"We've always argued that this is bad policy for New York, and we intend to seek reversal through all available avenues," stated Ken Pokalsky, emphasizing the coalition's commitment to challenge the law.
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