It seems that Exxon is still in court over the $5 billion settlement they were ordered to pay in 1989. For those of you who don't remember...
In 1989, an Exxon ship - The Valdez - dumped 11 million gallons of crude oil when the ship struck a reef. The spill covered 1,500 miles of Alaskan coast. It is reported that the captain of the Valdez was drunk and Exxon knew of his drinking problem. The main arguement Exxon stands behind is the fine is unconstitutionally excessive. The crude isn't breaking down and remains in the same state it was when it was deposited 17 years ago. Only seven of 30 marine species, resources or services have recovered to pre-spill levels. 34,000 Alaskans were affected by the spill.
“As subsistence fishermen and hunters, we still see the effects of that oil spill just about daily,” said Gary Kompkoff, head of the tribal council in Tatitlek, a tiny Native village just a few miles from the Exxon Valdez grounding site. He cited a dramatic fall in the number of herring as one of the most serious effects because herring make up much of the diet for other sea life. “If the herring don’t return, then we have nothing to harvest,” he said.
Exxons has offered to pay $25 million.
Do companies have the right to claim a fine is too excessive?? They understand the reprecussions of their mistake and yet claim there are no lasting effects. I mean this is a piece our world they distroyed!!
jujuman13
Ah, now I see the reason Exxon charge so much more for their gas than any other company.
They are gradually amassing this money in order to pay the fine.
Yeah, how can a company that has the highest profits of any company ever manage to pay that HUGE amount.
I hate oil companies.
That is so wrong. They should be cleaning up the oil and be forced to pay or to be shut out of buisiness. Its not fair to the people or animals that live there
They did pay to clean up the area as best as possible -- but it will take decades for the land to return to its previous state.
The issue is the $5 billion dollar fine to be paid to the government. To be honest... I feel that Exxon should be forces to use that $5 billion to develop alternative fuels. Our government is in too much debt and I don't trust them to use the money wisely.
i thoguth they has paied for the dumping
Well, we all know that they arn't exactly hard pressed for money. They made $8 billion (yes, that's with a "B") last quarter (yes, that is just three months).