Louisiana Attorney General Jeff Landry ruffled the feathers of the Louisiana Mid-Continent Oil and Gas Association and the Louisiana Oil & Gas Association with his authorized agreement to release Freeport-McMoRan from all claims for past impacts to the Louisiana coast.
In return, Freeport will deposit an initial $15 million into a state escrow, followed by payments of $4.25 million annually for the next 20 years, according to the attorney general.
The settlement was announced at a press conference Thursday.
LMOGA and LOGA issued a joint statement in an email to the American Press: “It is disappointing that some elected officials have sided with plaintiff’s attorneys in support of job-killing lawsuits.” Read more...