Pelican Responds to Settlement in Oil and Gas Lawsuits
Today, despite the lack of support expressed by state lawmakers, local elected officials, and industry leaders across the coast, state officials announced they have signed onto a proposed agreement seeking to settle coastal land loss claims against a single defendant that no longer operates in Louisiana.
The following is a statement from Daniel Erspamer, chief executive officer of the Pelican Institute for Public Policy (Pelican Institute), regarding the proposed agreement.
“Frivolous government-sponsored coastal lawsuits have and continue to inflict tremendous pain on Louisiana’s working families without demonstrably having any impact on coastal restoration, the issue which they purport to address. A Pelican Institute study found that the coastal lawsuits had a direct impact on Louisiana’s economy, costing $44 million to $113 million each year since the coastal lawsuits were filed and at least 2,000 jobs over just the first two-year period when the lawsuits were first filed.
Our state government shouldn’t be in the business of suing job creators, particularly considering the fact that these lawsuits kill jobs without guaranteeing funding will go towards coastal restoration efforts. Taxpayers and concerned citizens across Louisiana deserve full transparency in the state’s role in driving these job-killing lawsuits, as well as full disclosure on how any dollars collected would be spent.”
Stay tuned for more updates on this developing case.