Oil and Gas

With the stroke of a pen Friday morning Gov. Bobby Jindal signed Senate Bill 469, which retroactively quashes a lawsuit filed by the Southeast Louisiana Flood Protection Authority - East against 97 oil and gas companies over their role in cutting the Louisiana coast to ribbons and failing to restore it to its original state as required by exploration and drilling permits.


That Senate Bill 469 — which aims to kill the New Orleans levee board’s lawsuit against 97 oil and gas companies for coastal damages — could absolve BP from paying billions worth of damages claims raises an even bigger question: What role did BP play in the passage and drafting of the legislation?

A federal board investigation into the 2010 BP oil spill concludes that a last-ditch safety device on the underwater well had multiple failures, wasn't tested properly and still poses a risk for many rigs drilling today.

The owners of the blown-out Macondo well cannot avoid federal fines for the 2010 oil spill by blaming another company's failed equipment, a federal appeals court ruled Wednesday.

"The language proposed in SB 469 is vaguely broad and since it deals with the elimination of causes and rights of actions which protect Louisiana, I recommend that it be vetoed," Attorney General James Caldwell told the governor in a letter dated Tuesday.

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Company ID [NYSE:IBKC] Last trade:63.31 Trade time:4:00PM EDT Value change:▼0.51 (-0.80%)

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Company ID [NYSE:LHCG] Last trade:23.63 Trade time:4:00PM EDT Value change:▼0.10 (-0.42%)

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Company ID [NYSE:PQ] Last trade:5.76 Trade time:4:03PM EDT Value change:▲0.07 (1.23%)

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Twitter Inc.

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