24. The Catastrophe at Lake Peigneur
Year: 1980
Location: Iberia Parish, Louisiana
Company: Texaco
Estimated Damage Value: $50 million*
Lake Peigneur, once a beloved freshwater haven in Iberia Parish, became notorious in 1980. The disaster, possibly triggered by Texaco drilling above an underwater salt mine, altered its landscape and history forever.

The transformation was dramatic: a 65-acre sinkhole expanded, deepening Lake Peigneur from 10 to 200 feet. Remarkably, all 55 miners escaped without injury. Texaco’s aftermath involved shelling out over $50 million to affected local businesses.