Big Oil Has a Good Day in Court

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If you look at the legal disclosures of almost every company in the oil and gas industry, there is always some sort of ongoing legal battle. This week, though, Chevron (NYSE: CVX  ) and Transocean (NYSE: RIG  )  each had a case fall in their favor. Transocean settled its case regarding the November 2011 oil spill off the coast of Brazil without any financial obligations, and the International Arbitration Tribunal ruled that Chevron is not liable for the environmental damage claims brought against the company in Ecuador for dumping that occurred there by Texaco from the 1960s to the 1990s.

Both of these cases matter for each company, although for very different reasons. In the video below, Fool contributors Tyler Crowe and Aimee Duffy take a look at the impact of these cases and why investors should pay attention to legal proceedings for energy companies.

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  • Report this Comment On September 19, 2013, at 10:16 PM, toomuchgas wrote:

    Many liberals and environmentalists blasted Chevron for the alleged pollution and wanted them to settle the suit for billions. Even some of the so-called shareholders agreed. Chevron had a lot of defenses against the suit.

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