The change would effectively transfer financial responsibility from oil drillers, auto manufacturers and others and leave Americans to face greater direct costs as warming continues.
This is the exact opposite of perpetrator-pays that applies to any other crime.
Aka “privatize profits and socialize risks”
Let’s be real. This country was never going to do anything substantial about climate change.
For sure, Biden supported oil expansion through war, but this is very bad.
There is an alternative to regulatory approval burden. Carbon tax and dividend that rebates to consumers so that both producers can reduce emissions to provide better value, and consumers can avoid products that don’t, and get cash available to invest in alternatives.
$300/ton ($3/gallon gasoline) instead of $190/ton is a price that creates a sufficient incentive and ($4000+/year) dividend that both helps with poverty and with alternate energy investments. Musk, while doing some hateful stuff, has expressed pushes for UBI/dividends previously and recently. It’s always been the best approach, and becomes a non-discretionary-budget government item.
In terms of mainstream political responses, there needs to be a threat of nationalizing without compensation climate terrorist energy companies. Regulation has always been corrupted by lobbying and the purchased democratic outcomes that destroy that approach.
LLCs are more resistant to climate change than human beings I guess