A jury in Louisiana has ordered Chevron to pay $745 million to Plaquemines Parish to help restore wetlands damaged by the energy company, setting a precedent for other similar lawsuits in the state. The lawsuit alleged that Chevron, through its acquisition of Texaco, violated state law by not applying for coastal permits and failing to remove oil and gas equipment. Despite Chevron’s claims of innocence, the jury awarded the parish $575 million for land loss, $161 million for contamination, and $8.6 million for abandoned equipment, with Chevron planning to appeal the verdict.
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3 Reasons Lucid Stock Is Sliding Despite Record Q1 Deliveries
Investors in Lucid Group saw a slide in stock despite record first-quarter deliveries of 3,109 vehicles, raising $1 billion in convertible debt, and weaker revenue guidance for the quarter. Concerns over the impact of President Trump's tariffs on the supply chain and recent management transition also added to the stock's decline. However, investors are advised not to panic as upcoming earnings reports and the launch of the Gravity SUV could boost deliveries and revenue. Full...
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