US Chamber, oil industry sue Vermont over law requiring companies to pay for climate change damage [Video]

The U.S. Chamber of Commerce and a top oil and gas industry trade group are suing Vermont over its new law requiring that fossil fuel companies pay a share of the damage caused over several decades by climate change.

The federal lawsuit filed Monday asks a state court to prevent Vermont from enforcing the law, which was passed last year. Vermont became the first state in the country to enact the law after it suffered catastrophic summer flooding and damage from other extreme weather. The state is working to estimate the cost of climate change dating back to Jan. 1, 1995.

The lawsuit argues the U.S. Constitution precludes the act and that the state law is preempted by the federal …