To the editor: For too long, oil giants have been externalizing the environmental and human health costs of their products, while making record-breaking products. Until the government exacts these costs from polluters, our health bills will rise and environmental devastation will continue.
The Times editorial board makes a clear and compelling argument for the California Legislature to pass the Polluters Pay Climate Cost Recovery Act, a “climate Superfund” bill.
Until such a measure is approved, Exxon Mobil will continue to increase CEO Darren Woods' compensation above the $36.9 million he received in 2023. The decline in profits as oil majors are forced to cover their Externalized social costs could reduce CEO salaries while halting the death spiral of civilization.
Economics and common sense agree: make those who pollute the climate pay.
Tom Osborne, Laguna Beach
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To the editor: The proposed new tax on energy companies to address climate change reflects a basic misunderstanding of capitalism.
As the saying goes: “Corporations don't pay taxes, they collect them.” In other words, energy companies will simply pass the tax on to customers in the form of higher prices.
California already has the highest gas prices in the country. A new tax will make the situation worse. It will make legislators feel good but it will squeeze the working class even more.
Is it a bad idea.
David Cohen, Irvine
