Okay, they paid for the Valdez cleanup, and reimbursed some fishermen for lost income.
Exxon is whining that they shouldn't have to pay punitive damages, however. I don't pretend to know all the facts of the case, but punitive damages are an essential legal tool to hold corporations accountable, and send a signal that bad behaviour will not be tolerated.
How much is 2.5 billion, really, to ExxonMobil Corp? Seems like a drop in the bucket to me.
Exxon is whining that they shouldn't have to pay punitive damages, however. I don't pretend to know all the facts of the case, but punitive damages are an essential legal tool to hold corporations accountable, and send a signal that bad behaviour will not be tolerated.
How much is 2.5 billion, really, to ExxonMobil Corp? Seems like a drop in the bucket to me.
Exxon asks high court to void Valdez spill damages
Since the Exxon Valdez plowed into an Alaskan reef in 1989, pouring 11 million gallons of crude oil into the clear waters of Prince William Sound, Texas-based Exxon Mobil Corp. has paid $3.1 billion in fines, cleanup costs and environmental restoration, as well as $300 million in settlements with thousands of Alaskan fishermen, cannery workers and landowners.
[snip]
Exxon already got an Alaskan jury's $5 billion punitive damages award reduced by half. Now it is asking the U.S. Supreme Court to erase it altogether. The high court discussed Exxon's case in private last week and will announce as early as today whether it will accept it