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 Stories About: Alaska AND Big Oil AND energy AND insanity AND litigation AND news AND oil AND politics
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Pathetic Justice
Supreme Court slashes Exxon's punitive damages for Valdez oil spill |
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25 Jun 2008 |
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| Posted at 10:37 AM on 25 Jun 2008 ExxonMobil is off the hook for billions in punitive damages related to the 1989 Exxon Valdez oil spill. In 1994, the oil giant was ordered to pay $5 billion in punitive damages. In 2006, that amount was cut to $2.5 billion. On Wednesday, the Supreme Court slashed the amount once again, to $507.5 million. By a 5-3 vote (Exxon stockholder Samuel Alito sat out), the court reasoned ... |
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| Topics: Alaska, Big Oil, energy, insanity, litigation, news, oil, politics (all these topics) |
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