When Sen. Bret Allain (R-Franklin) realized the odds were stacked against his Senate Bill 531, he shopped venues until he found a committee more favorable to killing the lawsuit filed by the New Orleans levee board against 97 oil and gas companies.
"There is litigation pending, and there is a venue and an opportunity pending ... to make those arguments and to win. This ain't the place." — Sen. Danny Martiny, R-Kenner.
The NYSE-traded independent oil and gas producer's stock price, which has been steadily climbing, is up $1.06 Wednesday, to $44.29.
The state Senate is expected to vote Wednesday on Sen. Robert Adley’s S.B. 469, which would retroactively prevent levee boards from filing suit against the oil and gas industry.
Included in paid claims is a wireless phone company store that burned to the ground before the spill, an RV park foreclosed upon before the offshore disaster and a Pontiac dealer who could no longer sell Pontiacs because GM stopped making them.