Vermont becomes the first US state to pass a law requiring Big Oil to pay for climate damage
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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China’s Contemporary Amperex Technology Co., Limited (CATL) has unveiled its latest battery cell technologies, which charge as quickly as filling up a gas tank while potentially lowering costs without compromise.
CATL has quickly become the world’s largest battery manufacturer by a wide margin. It is one of, if not the biggest, force for advancing electric transportation.
A big part of CATL’s success is due to its advancements in lithium-iron phosphate battery cells, also known as LFP. LFP cells are cheaper than nickel-rich batteries, but they used to have much lower energy density.
The Chinese battery manufacturers managed to close the gap somewhat while maintaining lower costs, resulting in LFP cells becoming popular for entry-level EVs.
Now, CATL is looking to do the same with sodium-ion batteries.
Like LFP cells, sodium-ion battery cells have the potential to be cheaper than more common Li-ion cells, but they also offer potential for superior performance, particularly in terms of faster charging and longer lifecycles.
CATL has unveiled today Naxtra, its new sodium-ion battery cells, and it claimed some truly impressive specs.
The new cell reportedly achieves an energy density of 175 Wh per kg (385 Wh per lb), on par with the higher-end of LFP battery cells.
The new cells also offer potential for significant safety improvements.
CATL shared several intense stress tests, including drilling into a cell and even cutting it in half without any thermal event:
The next-gen sodium cells could help further lower the cost of electric vehicles without compromising performance, and while increasing safety.
On top of the new Naxtra cell, CATL has also unveiled its next-gen Shenxing LFP battery cells.
Its charge rate is truly impressive. CATL shared several examples of cars charging at around 1,000 kW and maintaining over 500 kW at over 50% state of charge:
The new cell is being described as capable of adding 300 miles (482 km) of range in about 5 minutes – depending on the EV model.
That’s virtually as quick as filling up a tank of gas.
CATL says that the Shenxing will be in 67 electric vehicle models by the end of the year.
The next-gen cell was unveiled after BYD, CATL’s biggest competitor, also unveiled its latest technology, capable of charging electric vehicles at extremely high speeds.
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New York State has announced an extra $30 million for point-of-sale rebates to lease or buy more than 60 new EV models.
The rebates are available to consumers through New York’s Drive Clean Rebate program, which offers a point-of-sale rebate off the manufacturer’s suggested retail price (MSRP) of an EV at participating car dealerships in New York State.
The rebate is available in all 62 counties, with the highest rebate of $2,000 available for EVs with a greater-than-200-mile range. (For a 40- to 199-mile range, the rebate is $1,000.) The New York State Energy Research and Development Authority (NYSERDA) runs the program.
NYSERDA President and CEO Doreen M. Harris said, “Converting to EVs reduces the total cost of vehicle ownership through lower fuel and vehicle maintenance costs, and NYSERDA is proud to help provide New Yorkers with more purchasing power through these rebates.”
The Drive Clean Rebate program has issued over 190,000 rebates to consumers since 2017, contributing to the more than 280,000 EVs on the road in New York State.
NYSERDA also boosted its EV charging incentives. Through the Charge Ready NY 2.0 program, the state is boosting the cash available for Level 2 charger installations at apartment buildings, workplaces, and hotels from $2,000 to $3,000 per port. And if the chargers go into disadvantaged communities, that amount jumps to $4,000 per port.
New York has racked up over 17,000 public EV chargers, making it second only to California for charger count. On top of that, there are more than 4,000 semi-public stations tucked into workplaces and multifamily buildings across the state.
Read more: New York awards $60M to Revel to install 267 DC fast chargers
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LTL carrier ArcBest Freight (ABF) announced plans to add five new Orange EV electric terminal tractors to its existing ZEV fleet, bringing its total deployment of these battery electric HDEVs to 14 … with even more to come.
LTL stands for “Less than Truck Load,” and basically means that, since whatever you’re shipping won’t take up a full container, you can share the costs of shipping with other customers with goods going the same way. You save a little more money and the shipper makes a little more money, making it a rare win-win scenario in the shipping space. And that’s important, because LTL containers amount to a massive 15% of total US shipping.
ABF has been putting Orange EV yard dogs to work in their LTL traffic terminals since their initial deployment of four trucks in June 2022. The company added five more a few years later, and just purchased five more — further underscoring their confidence in the benefits of transitioning their fleet to electric power.
“The Orange EV terminal trucks meet our operational requirements and expectations for safe, reliable, and affordable service and performance,” explains Matthew Godfrey, ABF Freight president. “We’re committed to responsible environmental management, and our investment in EVs aligns with our continuous efforts to enhance efficiency while maintaining exceptional service standards.”
ABF joins other large logistics companies like YMX and DHL in deploying the Orange EV terminal trucks, which have logged hundreds of thousands of hours of service for their customers.
Electrek’s Take
Over at The Heavy Equipment Podcast, we had a chance to talk to Orange EV founder Kurt Neutgens ahead of last year’s ACT Expo for clean trucking. On the show (embedded, above), Kurt explained how his experience at Ford helped inform his design ideology, and that the Orange EV was designed to be cost competitive with diesel options, even without subsidies.
Give it a listen, then let us know what you think of the big yard dogs in the comments.
SOURCE | IMAGES: Orange EV; via PR Newswire.
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