The Supreme Court hands a win to oil and gas companies fighting environmental lawsuits in Louisiana [Yahoo! Finance Canada]
ConocoPhillips (COP)
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Source: Yahoo! Finance Canada
The 8-0 procedural decision gives the companies a new day in federal court after a state jury ordered Chevron to pay to clean up damage to the state's coastline, one of multiple similar lawsuits. Backed by the Trump administration, the companies argued the case belongs in federal court because they began oil production and refining during World War II as U.S. contractors. They deny responsibility for land loss in Louisiana and argue it's wrong to sue them for what they did before state environmental regulations were in place. Louisiana's coastal parishes have lost more than 2,000 square miles (5,180 square kilometers) of land over the past century, according to the , which has also identified oil and gas infrastructure as a significant cause. The state could lose an additional 3,000 square miles (7,770 square kilometers) in the coming decades, its coastal protection agency Republican Gov. Jeff Landry backed the lawsuits when he was attorney general, even though he's a longtime
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COP
Sec Filings
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- 3/31/26 - Form 4
- COP's page on the SEC website