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 t he 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.

read more | digg story

What an outrage! I cannot believe that Exxon is coming out on top, yet again. It’s disgusting that Exxon is now required to pay only a small pittance in punitive damages when they are making record breaking, windfall profits at the expense of people and the environment. What has happened to our world? The rich keep on getting richer, and everyone else keeps getting stepped on. Peace 🙂


~ by peaceseeker99 on June 27, 2008.

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