This week Fox News ran an op-ed by E.J. Antoni of the Heritage Foundation and Daniel Turner of Power The Future under the headline “Eco-warriors want to turn up the heat on your wallet to fund their climate agenda.” The argument is simple. Cities, states, and members of Congress are trying to make oil and gas companies pay for climate damages. They’re using lawsuits, state “climate superfund” laws, and a federal bill. The companies will pass every dollar on to you. The authors put the tab at about $194 billion a year, or roughly $1,465 per household. They close by calling it a tax on households that no one voted for.
The timing is deliberate. On October 5 the Supreme Court heard Suncor Energy v. County Commissioners of Boulder County, which asks whether federal law blocks state-law climate claims like Boulder’s. The ruling could determine whether many of these suits survive. So it’s worth looking closely at what the op-ed gets right, what it stretches, and what it leaves out. The thing it leaves out is the part of your electric bill that’s actually going up right now.
The number comes from a report the same two authors released last month. It examined more than 300 pending lawsuits, three state superfund laws, 12 proposed state bills, and one federal bill. The $194 billion figure is what they call a “full-success scenario.” It assumes all of the following happen: