Posted on 04/03/2014 1:18:36 PM PDT by Olog-hai
The federal government on Thursday reached a $5.15 billion settlement with Anadarko Petroleum Corp., the largest ever for environmental contamination, to settle claims related to the cleanup of thousands of sites tainted with hazardous chemicals for decades.
The bulk of the money—$4.4 billion—will pay for environmental cleanup and be used to settle claims stemming from the legacy contamination. …
(Excerpt) Read more at bigstory.ap.org ...
Wanna bet ?
Regarding the properties in question, the Territory of the Navajo Nation is reasonably under Congress’s exclusive legislative control. And although Lake Mead is a part of the Hoover Dam Recreational Area, I don’t know if the land was properly purchased from the state or a private owner through the Constitution’s Clause 17 of Section 8 of Article I or the 5th Amendment respectively.
But regardless of possible problems with Lake Mead, my intial impression is that this a constitutionally proper settlement.
So correct, 30 years from now they will still have the clean up plan under review, but in the short term mac daddies off shore account will have mysteriously increased by $2.2 billion dollars.
So correct, 30 years from now they will still have the clean up plan under review, but in the short term mac daddies off shore account will have mysteriously increased by $2.2 billion dollars.
A little bit of the history:
(this is my paraphrase and not a quote involving copyright)
Some of Kerr-McGee’s manufacturing sites had contamination such as: rocket fuel that had polluted Lake Mead; radioactive wastes; and creosote from wood-treating plants.
Kerr-McGee shifted the clean-up liabilities to a spin-off company called Tronox.
Anadarko acquired Tronox in 2006.
This settlement resolves a legal battle and claims against Kerr-McGee.
The stock price for Anadarko rose 15%t, to $99.43 after the announcement of the settlement.
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