Exxon only to pay 1/10 of original ruling on Valdez spill

Supreme Court Slashes Exxon Valdez Oil Spill Fine to One-Tenth of Original $5 Billion Ruling

The Supreme Court handed corporate America a major victory this week when it sharply reduced the amount of money Exxon Mobil has to pay in punitive damages for the 1989 Exxon Valdez oil spill in Alaska. An Alaskan jury had initially ruled Exxon should pay five billion dollars in punitive damages but in 2006, the 9th U.S. Circuit Court cut the award of punitive damages in half. On Wednesday, the Supreme Court cut the amount of punitive damages again and ordered Exxon Mobil to pay just $500 million in punitive damages -- one tenth of the original jury's ruling.

Category:

News & Politics

Tags:

• exxon
• oil
• valdez
• spill
• alaska
• chevron
• gas
• democracy
• now

[angelinakitty]

this is not a country run by the people anymore. the usa is run as an oil corporation now. BY THE OIL CORPS, FOR THE OIL CORPS this totally proves it. quite a slap in the face to the people, animals and environment of the usa and the PLANET.

exxon could certainly afford to pay the people but NO. they rule the usa now. thats a fact. OIL OIL OIL OIL

nothing is more important to the politicians now. bought and sold.

[misterflea]

fucking sickening, us fishermen here in cordova alaska has been royally screwed, and by our own goverment. I fucking hate corporate america and the shit they get away with.

[covingtonium]

@mattcreese88 i didnt buy any calls, looks like the market is going to be shit for a while

[mattcreese88]

@covingtonium You're a dick

[covingtonium]

Sweet!!! This is good news for me!! I'm busy buying up XOM (Exxon Mobil) stock option calls at around the 72.50 and 75.00 strikes for January 2012!! I hope they make more money and their stock goes up so I can make a few hundred thousand dollars. :) I love capitalism!!!

[WoodruffJamie]

Check out OIL SPILL ELIMINATOR on youtube please. It is cool.

[bozothefighterpilot]

If everyone hates Exxon Mobile then maybe everyone should ride their bicycles. Or are you people hyocrites? You drive a car. And the over 600 jets at the airport in DC for Barak Obama's inaguration.

[ROBBEDBYBIGOIL]

Man Just give me some direction !! the 28th ammendment seems like a start. What we americans need to do is choose to NOT oil

[shaka1221]

The biggest assholes of the world. Talk about terroisim why isnt homeland security on this? Oh right their salaries are paid by exxon mobil

[skipbackflapjack]

What this ruling has ensured for the future, is that people will not even sue big companies like Exxon Mobil at all because no lawyer would even take a case like this without millions of dollars up front to finance 19 years of litigation.

[skipbackflapjack]

It is time for Americans to wake up and get involved with the rulemaking of our great country.  This is just another example of the sheeping of America. Just bleat baa-aah baa-aah at the gas pump as you pay $4.50 a gallon, sure to go up much higher real soon. They(Exxon, big oil) are rich and powerful beyond our wildest dreams.