In court

 
Last Updated: Saturday 04 July 2015 | 02:50:09 AM

Exxon pays for oil spill: A US court of appeals ordered Exxon Mobil, the world's largest publicly-traded oil company, to pay US $1 billion to the victims of 50,000 tonnes oil spill in Alaska in 1989. The penalty includes US $507.5 million in punitive damages and US $500 million in interest starting from the original trial judgement in September 1996. The figure is a small fraction of the US $5 billion in damages that a special jury had originally awarded the 33,000 Alaskans affected by the oil spill. That amount was later reduced to US $500 million by US Supreme Court following appeals by Exxon.

The oil spill, the worst in the US history, had damaged 2,100 km of the Alaskan coastline. The company had then spent nearly US $3.4 billion to clean up the oil slick.

Subscribe to Weekly Newsletter :
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.

Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.