In light of the current destruction created by BP and Halliburton and whatever other companies are named... people need to be reminded of the FACT that Exxon Mobil PAID NEXT TO NOTHING for their toxic damage... which still exits.
Exxon Mobile made over $40 Billion in 2008!
Thanks to 20 Years of appeals and a wishy washy Supreme Court who could care less about the Environment. (Note: We certainly don't need any more East Coast Harvard Grads on the Supreme Court).
----------------------- FACTS -----------------------------
Toxic residues remain to this day after the 1989 Exxon Valdez spill in Alaska's Prince William Sound, studies have shown. Thousands of fishermen, cannery workers, landowners and Native Americans were initially awarded $5 billion in punitive damages. That was reduced on appeal to $2.5 billion and then, in 2008, cut down to $507.5 million by the U.S. Supreme Court.
I am seldom in agreement with Mike - but there are signs from Rush & Company and from apologists on this site who are already deciding in advance of an investigation that BP is not to blame.
I don't know who is to blame - but BP owned the lease and they are responsible, I think. They are trying to argue differently. We will need to hold thier feet to the fire for every nickle of damages. How bad the damages will finally be is incalculable - the oil is still spilling and no one can say how long it will take to turn it off.
Drill ,baby, drill. Yeah right.
Exxon has paid $500 million to 32,000 Alaskans, fishermen, and landowners affected by the accident.
The Supreme Court reduced the punitive damages, ruling that they were out of proportion with the compensatory damages. Punitive damages were set at a one to one ratio with the compensatory damages.
Exxon has already paid more than $3 billion in fines, cleanup expenses, and other costs.
There is still an open legal challege related to the captain of the vessel.
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