Judge kills New York's $75 billion climate bill aimed at oil majors

A federal judge struck down New York's law that would have made big fossil fuel companies pay $75 billion over 25 years for climate damage. The court said the state overstepped federal authority. That lifts a major liability threat hanging over oil majors like Chevron (CVX) and ExxonMobil (XOM), and could weaken similar laws in other states.