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  • bijom Jul 24, 2013 8:49 AM Flag

    Louisiana Agency to Sue Energy Companies for Wetland Damage

    And the disingenuous thieves just keep on coming.
    A part of the story from Today's New York Times below:

    Louisiana Agency to Sue Energy Companies for Wetland Damage
    Published: July 24, 2013

    Louisiana officials will file a lawsuit on Wednesday against dozens of energy companies, hoping that the courts will force them to pay for decades of damage to fragile coastal wetlands that help buffer the effects of hurricanes on the region.

    “This protective buffer took 6,000 years to form,” the state board that oversees flood-protection efforts for much of the New Orleans area argued in court filings, adding that “it has been brought to the brink of destruction over the course of a single human lifetime.”

    The lawsuit, to be filed in civil district court in New Orleans by the board of the Southeast Louisiana Flood Protection Authority-East, argues that the energy companies, including BP and Exxon Mobil, should be held responsible for fixing damage caused by cutting a network of thousands of miles of oil and gas access and pipeline canals through the wetlands. The suit alleges that the network functioned “as a mercilessly efficient, continuously expanding system of ecological destruction,” killing vegetation, eroding soil and allowing salt water to intrude into freshwater areas.

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    • Meanwhile, the State of Louisiana has pulled in billions in tax revenue from those same oil companies over the last 40 years, not to mention all the other economic benefits in jobs, spending, etc.

      What a corrupt institution that State is! There should be a countersuit for defamation!

      • 1 Reply to tmoflp
      • hey tom, you forgot to add your pitch for Wendy's food. I liquidated WEN @ 7.31 PPS 2 days ago after realizing a 37% capital gain. their yield was good too. i will say this, i expect to realize the same capital gains with the sell of my BP holdings post decision.

        PS, i see Vikkitrader is on WEN message board. wonder if she is playing them short too. if so, she took a huge loss which, unless she settles her sort BP position, i expect her to be hurt the same way here.

        Sentiment: Buy

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