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Harrison: Big Oil bill a big gamble for Vermont

Poker machine in a casino

Poker machine in a casino by Markus Spiske is licensed under CC-CC0 1.0

Also, union negotiates 6.4% pay hike for state employees

by Rep. Jim Harrison

Despite my reputation at the State House as a promoter of our annual March Madness pool and making a couple of announcements about the adjournment pool, I am not a gambler. If you ever saw me in a casino during my former career attending a conference, at best, you may have found me at the nickel slot machine (which they probably don’t even have now). 

I share this as to why I voted against the so called “Make Big Oil Pay” legislation, S.259. While it passed by wide margins in both the House and Senate, I worry about the financial risk the State is taking with the bill. It sets up a climate cost recovery fund and allows Vermont to sue oil producers for damages stemming from climate change over the past 20 years. While we have seen the impacts of climate change firsthand with significant storms and flooding, the issue will likely end up in court for years to come and the potential liability to Vermont could be enormous. 

Rep. Jim Harrison

Not only will Vermont need to front its own legal costs and hire various experts to back up its claims, but the State could also be on the hook for the defendants’ legal bills if it loses the case on constitutional grounds. While Vermont might ultimately win and receive millions, we could also lose, as some legal experts believe, which will cost the State millions. As no other state has passed similar legislation, it’s just too big a gamble for our taxpayers in my view.

By the end of last week, it was looking more like the legislature would finish its work this week as scheduled. Much can happen that could the session to spill over to next week, including reaching agreement on the education tax bill. However, budget negotiators reportedly will have an outline of an agreement to present early this week. Once that happens, a signal is sent to the rest of the legislature, we are days away from completion. 

This risk-taking gambler has a few bets on finishing May 10! (The $2 wagers in the adjournment pool benefit ongoing flood relief efforts.)

Other issues of interest:

Author is State Representative for Rutland-11.

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