Oil company Chevron must pay at least $740 million to restore damage it caused to southeast Louisiana's coastal wetlands, a jury ruled on Friday following a landmark trial more than a decade in the making.
The case was the first of dozens of pending lawsuits to reach trial in Louisiana against the world’s leading oil companies for their role in accelerating land loss along the state’s rapidly disappearing coast. The verdict – likely to be appealed – could set a precedent leaving other oil and gas firms on the hook for billions of dollars in damages tied to land loss and environmental degradation.
