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Exxon Valdez Disaster - Politics, Business, Civil, History - Posted: 19th Jan, 2010 - 1:41pm
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Disaster Valdez Exxon
If they drag this one out much longer the beneficiaries of the settlement will start dying off from old age. It is a sad commentary that the oil companies have so much excess money that they can drag this out in court for 20 years without paying a dime in reparation to those who suffered the impact of the oil spill.
Here is a link to an article on the reaction of the plaintiffs in this case.
Exxon Valdez Plaintiffs React 
Edited: alskann on 26th Jun, 2008 - 7:25am
International Level: Activist / Political Participation: 32 
3.2%
Post Date: 26th Jun, 2008 - 6:06pm / Post ID: #
Exxon Valdez Disaster History & Civil Business Politics
I think it is sad that they did not get the payout that was originally ordered. I can agree with a lot of them that think that the big oil companies have far too much clout and can get the damages down to little more than a slap on their big grubby hands. I wish the supreme court would have made the $5 Billion settlement bigger.
Disaster Valdez Exxon
It seems only fair that after Exxon has drug this thing out for 20 years in the courts they should pay interest on what they were ordered to pay. At the very least from the time this final judgment was made. Otherwise Exxon could drag the payout on another 20 years.
| QUOTE |
| Exxon Mobil says it should not have to pay $488 million in interest on the punitive damages awarded for the company's role in the 1989 Prince William Sound oil spill, saying "there is no good reason" for the U.S. Supreme Court to assess interest. Last week, the people owed money from the Exxon Valdez lawsuit asked the Supreme Court to make it clear that they should receive interest payments, even though the court cut the punitive damages award in June from $2.5 billion to no more than $507.5 million. The company today submitted a nine-page brief to the high court opposing the application of interest, which could bring the total sum Exxon owes from the 1989 spill to nearly $1 billion. In its filing, the oil giant said that "the court has held that $507.5 million is the legally correct amount necessary to deter Exxon and others from future oil spills." "The deterrent for future oil spills will thus be the same whether post-judgment interest is paid or not," the company wrote. "Future spills in Exxon's position will know that their punishment will be in an amount up to the extent of the damage they cause." Also, the company adds that there is "no reason" to penalize it by awarding another $488 million when "the substantial delay here was not in any sense Exxon's fault" but was that of the plaintiffs who disagreed with a lower court decision. The company also describes the court case as "far from the kind of victory that could be described as "clear-cut." The case isn't the same as those where courts award interest, Exxon's lawyers argued, because even though the amount of the award was reduced, "it is substantially affirmed and upheld." With interest, and minus attorney fees, an estimated $628 million would be divided among the more than 32,000 plaintiffs in the case. |
International Level: Activist / Political Participation: 32 3.2%
Post Date: 24th Mar, 2009 - 8:04pm / Post ID: #
NOTE: News [?]
Exxon Valdez Disaster
20 Years After Exxon Valdez Oil Spill, Alaskan Coastline Remains Contaminated, Residents Still Struggle for Justice
Today marks the twentieth anniversary of the Exxon Valdez oil spill, one of the worst environmental disasters in history. The Exxon Valdez spilled 11 millions gallons of crude oil into the fishing waters of Prince William Sound. The spill contaminated more than 1,200 miles of Alaska's shoreline and killed hundreds of thousands of seabirds and marine animals. It also dealt a staggering blow to the residents of local fishing towns, and the effects of the disaster are still being felt today. We speak with Riki Ott, a community activist, marine toxicologist, former commercial salmon fisherma'am and author of two books on the spill. Her latest is Not One Drop: Betrayal and Courage in the Wake of the Exxon Valdez Spill. Ref. Source 8
TOPIC: Exxon Valdez Disaster