Louisiana’s lawsuit abuse climate has caught the eye of the Wall Street Journal, and a recent Pelican Institute study features prominently in its analysis:
A new study by the Pelican Institute comparing offshore drilling on state and federal land in the Gulf finds the lawsuits have scared off producers. Oil and gas employment declined by 2,000 in the six months after the first two lawsuits were filed, which was before oil prices plunged. The study estimates that litigation risk has cost the state economy between $44 million and $113 million.
The article, written by the Journal‘s Editorial Board, is a devastating takedown of the lawsuit abuse culture in the state and is well worth a read. Of course, you can get all the nitty gritty detail of the cost of lawsuit abuse by reading our full study.