Under Extremist Legislation, New Yorkers Will Pay $3 Billion a Year More for Energy 

If Gov. Kathy Hochul’s extremist climate agenda marches ahead as planned, New Yorkers are set to see massive price hikes in their energy bills.  

In December, Hochul signed the $75 billion dollar Climate Change Superfund Act into law, which will require oil companies to funnel $3 billion a year for 25 years into a government slush fund for public projects mitigating the alleged effects of climate change. Essentially, they want to raise funds without raising taxes and virtue signal to the climate zealots and uninformed.  

Anticipating the increased costs of providing energy under the governor’s oppressive climate initiatives, companies like NYC’s main provider Consolidated Edison have proposed shocking rate hikes of 11.4% for electric services and 13.3% for gas – this would increase the average New Yorker’s energy bills by about $154 per month than what they paid in 2020.  

Regardless of how its advocates try to sugar coat it, this new $3 billion per year tax will be paid by the people of New York. Oil companies will add this tax to the cost of the oil they sell, creating a toxic cycle of passing costs down to consumers through the burdensome demands of woke corporate capitalism and politicians’ moralistic agendas.