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Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: Marie A. Choate who wrote (787)	4/30/1999 8:52:00 PM
From: Edwin S. Fujinaka	Respond to of 4686

I believe that Florida (and New York) could be seriously at risk if their phony delaying tactics were ever brought before a jury. The State has the power to destroy through devious legal maneuvers as well as through taxation. Outrageous bond requirements could be viewed as a form of taxation. The Florida versus Coastal Petroleum situation is particularly egregious since the State sold Coastal Petroleum the leases in the first place. The State forced Coastal Petroleum to agree to drill every year or face loss of the leases. A jury might view that as fraudulent bad faith and I've suggested that punitive damages would be appropriate against a Government Agency that deliberately and flagrantly misused it's power. I'd like to see legal discovery of all memos and discussions related to drilling for oil and the legislation that resulted. CCO needs to begin thinking of playing hardball here. I've suggested a relatively inexpensive middle ground, but I might also "go for broke" with an all out legal assault for the entire value of all of the oil and gas as well as punitive damages. My $100 Billion could result in treble damages of $300 Billion under some circumstances. These numbers are giving me a nosebleed. <G>.