Vermont's Superfund-Style Law for Major Oil Companies

SOURCE www.npr.org
Vermont is the first state to adopt a superfund-style law for major oil companies to recoup climate-related damages.

Key Points

  • First state in the nation to adopt a superfund-style law for major oil companies
  • Allows the government to take action to recoup climate-related damages

Pros

  • Provides a mechanism for recouping climate-related damages from major oil companies
  • Could incentivize major oil companies to take more responsibility for their impact on climate change

Cons

  • May face legal challenges from major oil companies
  • Could lead to increased costs for consumers if oil companies pass on the expenses