The jury found for $5 billion; the federal appeals court cut it in half to $2.5 billion; and now, the high court has reduced it to $500 million, less than a fiscal quarter’s earnings. Justice?
For those of you who thought so, the spill to date has still not been completely cleaned up. The government felt sorry for them on that note as well.
6 Responses
Yes, original court’s fine was excessive.
They’ve coughed up over $3 billion to clean it up. No one was killed. No one was injured. The $500 million is the money for economic loss. Why should they have to pay $2.5 billion more for punitive damages?
Sounds like a good decision to me.
They didn’t. The original fine was excessive and the spill was cleaned up 6 months after the spill. If you don’t believe it take a trip up here to Alaska and look at the area I did. It is and has been a beautiful area.
You are aware that this appeal was for the additional punitive damages that were awarded.
They’d already spent billions on the cleanup, fines, direct damages, est.
What kind of shallow and biased source are you getting your news from? Wherever it is, they’re not giving you the whole story.
I’m just glad the cost of this fine won’t be adding to already high gas prices.
Turn over a rock along P.W.Sound, and you still find oil. But you don’t find fish or sea mammals any more. The fishing industry is dead in that area. But politicians don’t listen to the people the new world was stolen from. Exxon lost only one day’s profits, and were given options on 600,000 acres of oil fields that they have been sitting on waiting for the price of crude to hit $200/bbl.
Poor little Exxon!