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Posts Tagged ‘exxon’

Court orders $507.5 million damages in Exxon Valdez spill

exxon-validezA federal appeals court on Monday ordered Exxon Mobil Corp to pay $507.5 million in punitive damages stemming from the 1989 Exxon Valdez oil spill off Alaska, plus 5.9 percent interest running from the 1996 trial judgment, the opinion said. The amount is a fraction of the $5 billion in punitive damages originally awarded to fishermen, Alaska natives, business owners and other litigants by a jury in 1996, and equals the compensatory damages agreed to in a subsequent settlement, the opinion said. The oil spill from the Exxon Valdez supertanker in 1989 was the worst in the nation’s history, blackening more than 1,200 miles of Alaska’s coastline. The clean-up alone cost around $2.5 billion. Full Story : YahooNews…..

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20-Year Anniversary of Exxon Valdez Oil Spill

exxon-validezTwenty years ago shortly after midnight on 24 March 1989, the Exxon Valdez grounded on a reef in Prince William Sound in the Gulf of Alaska. Nearly 40 million liters of oil spilled from the Exxon Valdez . The accident became a lightening rod for environmentalists and lawmakers, but has also prompted hundreds of scientific studies looking at the implications of the disaster on local people, the ecosystem, remediation practices and oil spill response. Full Story : Nature.com….

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@ a glance : Exxon Mobil posts record $45.2 billion profit in 2008

Another year, another record profit statement from Exxon Mobil, the world’s largest publicly traded oil company. The specific mind-numbingly large figure is $45.2 billion Full Story : Autoblog….

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