On December 26, New York joined Vermont in enacting a climate Superfund law seeking $75 billion from the state’s largest polluters to address climate change over the next quarter century, adding to the growing landscape of liability for big oil.
But Bracewell’s Scott Segal told Bloomberg Law not to expect a run of states to join this movement.
Segal said the “critical mass of states interested in adopting these laws” isn’t there, largely due to fears of litigation and energy price increases.
States pursuing both climate Superfund laws, as well as climate deception cases, could face unintended consequences from courts looking to quash double-dipping on damages imposed on companies, Segal said, noting that the federal Superfund law was designed to prohibit “robust access” to the courts.
