Well, Freeport McMoRan is admitting damage done to south Louisiana coastline from decades of breaking state laws in their oil drilling operations. The penalty? $100 million over several years. Wow. Pretty light for land loss of about 2,000 square miles (about the size of Delaware). To say nothing of the pollution, record cancer rates and poverty, in spite of the vast amount of oil and gas removed from the site. I have always said Louisiana isn’t a state, it is a co!ony. Again, $100 million. Sounds like a lot but I bet the houses of the top 5 or so Freeport execs are worth more than that. An outrage on top of an outrage.
In first for energy industry, Freeport-McMoRan to settle Louisiana lawsuits aimed at restoring coast