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 12/22/06

Exxon Pays Half Of Fine For Valdez Spill

Exxon-Mobil will no longer have to pay $2.5 billion in punitive damages that were originally assessed for the 11 million gallons of oil it spilled in Alaska. According to an appeals court ruling, the company must now pay only $2.5 billion in punitive damages, down from $5 billion originally awarded. Meanwhile, the main beneficiaries of the money are teeming schools of attorneys and consultants, while the restoration work is going nowhere.

Source: http://news.bbc.co.uk/2/hi/business/6204819.stm

Last modified December 29, 2006, at 09:46 AM EST © Transnational Temps

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