Exxon to Shell Out Meager Millions for Valdez Catastrophe
Today the Unites States Supreme Court ruled that ExxonMobil is no longer responsible for the $5 billion originally ordered in 1994 in punitive damages related to the massive Exxon Valdez oil spill in 1989. That figure was sliced by half in 2006 to $2.5 billion, but as of today the oil leviathan only owes $507.5 million, or roughly 10% of the original ruling.
Our friends at grist.org, breaks it down for us: "By a 5-3 vote (Exxon stockholder Samuel Alito sat out), the court reasoned that punitive damages should not exceed what the company paid to victims for economic losses. Since the accident, Exxon has paid $3.4 billion in various fines, penalties, cleanup costs, claims, and other expenses. The $507.5 million will be divvied up among 32,677 commercial fisherfolk, seafood processors, landowners, native Alaskans, and small business owners. Exxon, which posted a record-breaking annual profit of $40.6 billion in February, makes $507.5 million in approximately 12 hours of sales."
To refresh our collective memory, in 1989 the Exxon Valdez supertanker ran aground on Bligh Reef in Prince William Sound, Alaska dumping 11 million gallons of crude oil into the pristine Alaskan eco-system. To date, it still ranks as the worst oil spill in U.S. history. Whoops!
Damage done:
* 500,000 birds (90 species), including 150 bald eagles dead
* 4,500 sea otters dead
* 14 killer whales dead
* Salmon, herring, clams, mussels, seaweed dead
* Immeasurable toll on tourism & fishing industry
For a little desperately needed perspective, check out this piece from CNN. The visual impact of all that sticky, suffocating, black oil after nearly 20 years is still stunning:
About this blog
Roxanne Kotzman is a Daily News Photo Department veteran of nine years. When she and longtime friend Stacy Long
discovered their love all of all things environmentally responsible, they launched Happy Monkey Planet and jumped head-first into the vibrant eco-community.
Wow, so much to learn! But initially the idea is a pretty simple one: Let's change the world through information, education and action.
Rox & Stacy are a lot like you: ecologically minded but sometimes just plain overwhelmed when charged with the task of making a far-reaching difference in the environment. They have jobs, families, homes, lives and pets.
But what if doing better was a simple as a light-bulb change, a reusable canvas grocery bag, recycling that soda can or a cold-water wash?
These eco-chicks just hope to have a little fun, learn a little more, share a lot of information and maybe make the planet a happier, greener, cleaner place.
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