In first, Vermont ready to make fossil fuel giants pay for climate damage

  (Raw Story) : Offering a model for others to follow, Vermont this week became the first state in the nation to pass legislation that would require fossil fuel giants to pay for the damage and disruption caused by their planet-warming products. While it remains likely Republican Gov. Phil Scott will veto the bill passed by the state Senate in March and the House on Monday, the legislation—now heading for his desk—was celebrated as a blueprint for others to imitate. As Vermont Publicreported: Modeled after the federal Superfund program, the policy would require companies like ExxonMobil Corporation and Shell to pay Vermont a share of what climate change has cost the state in recent decades. Vermont would use those payments to establish a program to fund recovery from climate-fueled disasters and work to adapt to the state’s already-changed climate. Vermont could become the first state in the country to enact such legislation. New York, California, Massachusetts and Maryland are all considering similar bills, as is Congress. The fossil fuel industry has opposed the measure and vowed legal action if it becomes law. In March, the American Petroleum Institute (API), which represents oil and gas companies, called the legislation "bad policy" and argued that it "may be unconstitutional" for holding corporations responsible for what society at large has done. Evidence has shown, however, that the fossil fuel industry knew about the climate impacts of burning coal, oil, and gas for decades, but hid those understandings from the public as it fought efforts to curb emissions ..