Newsom must now decide whether to go even further. Lawmakers have sent him bills aiming to reduce greenhouse gas emissions from buildings, help schools adapt to the changing climate and ease the cost to taxpayers for the cleanup of orphan oil and gas wells.
Newsom said he would sign a bill requiring companies making more than $1 billion in annual revenue to disclose a wide range of greenhouse gas emissions. He also said he would sign legislation requiring companies making more than US$500 million annually to disclose how climate change can affect their businesses financially and how they plan to adapt.
With no active owner, the state has the responsibility to clean up the wells. That is a problem because taxpayers should not be on the hook for oil and gas companies not properly closing wells, said Ann Alexander, a lawyer with the Natural Resources Defense Council. The Western States Petroleum Association says the bill could "exacerbate" the state's orphan well problem by adding another financial barrier for companies that might otherwise acquire a well.
The state plans to cut these emissions from homes, stores and other buildings as part of its broader 2030 target of reducing California's greenhouse gas emissions by 40% below the 1990 level.
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