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In a historic move, Vermont has become the first US state to pass a law that makes major fossil fuel companies financially responsible for climate change damages.

What the Climate Superfund Act does

S.259, “An act relating to climate change cost recovery,” or the Climate Superfund Act, aims to create a new financial mechanism to cover the costs of climate adaptation and mitigation, ensuring that the polluters most responsible for greenhouse gas emissions pay their fair share.

Governor Phil Scott (R-VT) allowed the Climate Superfund Act to become law without his signature. He explained his reason for not signing to lawmakers [via Vermont Public]:

“I’m deeply concerned about both the short- and long-term costs and outcomes…” he said. “I’m also fearful that if we fail in this legal challenge, it will set precedent and hamper other states’ ability to recover damages.”

However, he said, “I understand the desire to seek funding to mitigate the effects of climate change that has hurt our state in so many ways.”

The Climate Superfund Act enables Vermont to seek financial compensation from oil, gas, and coal companies for damage caused by climate change. That includes repairing infrastructure damaged by extreme weather events, investing in renewable energy, and supporting communities affected by climate-related disasters.

The new law’s concept is similar to the federal Superfund law, which mandates that companies responsible for hazardous waste sites fund their cleanup. Vermont has extended this principle to the broader issue of climate change, marking a significant shift in environmental policy.

Lauren Hierl, executive director of Vermont Conservation Voters and a Montpelier city councilor, said, “Without the Climate Superfund, the costs of climate change fall entirely on taxpayers – and that’s not fair. Now, there is a law in place to require the corporations that caused the damage to pay, too.”

When state legislature was in session, Dartmouth College scientists told lawmakers that it’s scientifically possible to determine the extent to which climate change has contributed to the increased frequency and severity of extreme weather events, especially in the case of flooding.

Vermont was besieged by floods last summer, and damages are put at more than $1 billion.

Big Oil’s pushback on this landmark law

However, the Climate Superfund Act is expected to face significant legal challenges. The American Petroleum Institute (API), the top lobbying group for Big Oil, has already indicated plans to challenge the law in court. API stated in an opposition letter to the Vermont state Senate last week that the law…

… retroactively imposes costs and liability on prior activities that were legal, violates equal protection and due process rights by holding companies responsible for the actions of society at large; and is preempted by federal law.

Despite the expected legal battles, the implications of Vermont’s climate law could be far-reaching. If it withstands judicial scrutiny, it may inspire other states to adopt similar measures, creating a patchwork of state-level climate accountability laws. This could increase financial risks for fossil fuel companies and accelerate the transition to renewable energy as states seek to mitigate climate change impacts more aggressively.

Vermont’s Climate Superfund Act also shines a spotlight on the pivotal role that state governments can play in addressing climate change, particularly if federal action becomes stalled. This bold move by Vermont demonstrates the potential for state-level initiatives to drive progress in the fight against climate change.

Beginning in 2031, the state auditor will be responsible for assessing the program’s financial impact on Vermonters every five years.

The treasurer’s office must complete its estimate of Vermont’s climate change costs by January 2026, and the Agency of Natural Resources must submit an adaptation plan by July 2025.

Read more: Vermont just passed a 100% renewable electricity mandate


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U.S. crude oil prices fall more than 4% after OPEC+ agrees to surge production in June

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U.S. crude oil prices fall more than 4% after OPEC+ agrees to surge production in June

Logo of the Organization of the Petroleum Exporting Countries (OPEC)

Andrey Rudakov | Bloomberg | Getty Images

U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.

U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.

The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.

The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.

Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.

Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.

“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.

Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.

Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.

Catch up on the latest energy news from CNBC Pro:

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Chicago plans more, and more equitable public charging as EV sales climb

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Chicago plans more, and more equitable public charging as EV sales climb

Electric vehicles’ share of the market continues to climb in America’s second city, with BEV registrations up more than 50% in the first quarter of 2025 compared with the same period last year. Great news, but charging hasn’t up – but a new plan from Chicago Department of Transportation aims to build up enough infrastructure for the city to keep up.

In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.

Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.

“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”

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Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.

“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”

The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.

The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”

Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.

Electrek’s Take

Chicago Drives Electric | ComEd Press Conference
ComEd press conference at Chicago Drives Electric, 2024; by the author.

I hate to sound like a bed-wetting liberal here, guys, but Chicago is getting EVs absolutely right with big utility incentives on both vehicles and infrastructure, a governor willing to stand behind smart environmental policy, and a solid push for more and better infrastructure in the areas where they’ll do the most good. They’re even thinking of the children.

Here’s hoping more cities follow suit.

SOURCE: ComEd, via Smart Cities Dive; featured image by EVgo.

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Meet Bodo – the 35 mph electric golf cart that thinks it’s a G-Wagen

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Meet Bodo – the 35 mph electric golf cart that thinks it's a G-Wagen

With a fully-enclosed, G-Wagen-inspired body and an 80 mile electric range, the Bodo G-Wagon golf cart is the NEV you need when you decide it’s time to get serous one-upping the rest of the Palm Beach country clubbers.

If you love the look of the $230,000 Mercedes-Benz G580 off-roader, but think the 579 hp, 6,800 lb. electric 4×4 is probably overkill for occasional trips to the golf course and country club, this G-Wagen-inspired golf cart might be just what you’re looking for.

The shiny black 2024 Bodo G-Wagon sold at Mecum Auctions last month for $31,900, which seems like it might not be a lot of money to the sort of person who decides to take a flyer on a goofy, limited-use EV that ships with real, metal doors, power windows, heating and air conditioning, fully digital instrument cluster and infotainment, and a “posh,” caramel leather interior.

It even has windshield wipers, power steering, and a rear-seat entertainment system that’s built into the front headrests!

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It’s really nice in there

Under the hood, the Bodo packs a 15 kW (20 hp) electric motor drawing power from a 10 kWh li-ion battery that won’t deliver a scorching 0-60 mph time (it only goes 35), but will deliver you and your buddies from one end of any golf course in North America and back several times over, thanks to the G-Wagon’s 80 mile range.

The official Mecum Auctions listing goes into a bit more detail, and I’ve included it here, in case it gets deleted after a while and you’re just finding this for the first time in 2027:

Be the envy of any country club or golf community showing up with this 2024 Bodo G-Wagon Golf Cart. Perhaps more appropriately known as an E-Wagon, this baby G-Wagon is powered by a 15kW motor with a 10kWh lithium battery. Boasting an 80-mile range and a 35 MPH top speed, the Bodo is an enclosed, luxury golf cart that pampers occupants with heating and air conditioning, rear-seat entertainment, power windows, power locks and a posh, caramel-colored interior. With the Bodo fitted with power steering and 4-wheel power disc brakes with brake boost, drivers will think they’re in a full-size G-Wagon, thanks to the multiscreen entertainment cluster, the rearview camera, windshield wipers, turn signals, running lights and so much more.

Finished in black with the right amount of brightwork, the overall vibe is one of jaw-dropping, smile-inducing fun. While the Bodo would be an excellent choice for any golf community, it should also prove to be hugely popular around a race track or car condo community as well, or maybe even a neighborhood with its own airplane runways. Over the past decade in particular, the demand for unique, luxury golf carts has been on the rise, and understandably so. The number of luxury communities with specific interests in sports, aero and auto has also been on the rise, with people buying homes in these exclusive locations to better engage with like-minded people. All too often a golf cart is the perfect way to get around these gated neighborhoods, and this one is enclosed, comes with the amenities of a full-size car and is infinitely more stylish.

MECUM AUCTIONS

You can check out a few more photos of the 2024 Bodo G-Wagon golf cart that sold at Mecum, below – and if you want one for yourself, you’re in luck! I found this brand-new 2025 “G600 E-Wagon” (in white) for $23,900 at Gulf Carts in Santa Rosa Beach, Florida. Head on down to the comments and let us know if you buy it.

SOURCE | LOTS MORE PHOTOS: Mecum Auctions.


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