The Empire State has been losing residents for years, primarily because the cost of living is too high. Years of Democrat control have made New York one of the highest-taxed states in the nation, and a growing number of its (now former) residents clearly had enough.

So, what does a leftist state government do to meet the growing budget demands its revenue streams fail to meet? Well, if Democrats are in charge, the answer can never be the most logical, which would be cutting government spending. For Democrats, the problem is never a government that’s too big; instead, it’s a government that’s not big enough.

The trouble is that continuing to raise taxes on an already dwindling population will only push more folks with means out of the state. So, the Democrat brain trust in Albany has conceived of a failed New York City idea to shake down the oil industry for billions of dollars.

Democrats and the Left have demonized the oil industry as the biggest villain in their climate change cult. Ostensibly, the world is going to hell in a handbasket all because those greedy oil companies have taken advantage of people’s energy needs, which has contributed to rising CO₂ levels.

By asserting the dubious claim that mankind is primarily responsible for climate change, New York Democrats, led by Governor Kathy Hochul, are looking to drill $75 billion from fossil fuel companies for their supposedly outsized role in destroying the planet.

Signing the legislation into law, Hochul said, “This landmark legislation shifts the cost of climate adaptation from everyday New Yorkers to the fossil fuel companies most responsible for the pollution.” Uh, reality check, please.

Hochul and New York will undoubtedly be shifting costs, but not the cost she is ridiculously attributing to climate change, as there is no means of delineating that amorphous expense. The price being shifted is the tab that the New York government has been racking up for years. Those government expenses have expanded due to the Empire State’s numerous welfare programs and public workers’ benefits.

Of course, the bill effectively hides this reality by noting that the money raised will go to “upgrades to roads, bridges, subways, and transit systems,” “preventive health care programs,” “upgrading parts of the electrical grid,” and “weatherization and energy efficiency upgrades” in buildings.

While the oil companies are the targets of this legislation, the truth is that they ultimately won’t be paying $3 billion annually over the next 25 years. Instead, that bill will be paid by consumers, who ultimately pay every tax levied on a business. So, in the end, New York Democrats are raising taxes again, but this time, it’s not just on state residents. Thanks to Hochul and New York Democrats, all Americans will pay more for gas, oil, and energy.

However, there may be a silver lining here. The U.S. Supreme Court is considering whether to hear the case Sunoco LP v. City & County of Honolulu. In this similar situation, the city of Honolulu, Hawaii, has blamed the fossil fuel industry for climate change and is seeking to hold energy companies “accountable” via a shakedown. New York’s passing of similar legislation will hopefully push the Court to take the case and end this burgeoning racket.