Exxon Still Paying for Valdez Spill

Despite the fact that it happened twenty years ago, Exxon is still paying significant sums of money in damages for the Exxon Valdez oil spill that devastated the coast of Alaska, both ecologically and economically. Over $480 million in punitive interest penalties and $70 million in court fees will be paid by the oil giant.
 
This number stands in addition to the $507.5 million that Exxon has already paid in punitive damage awards to those affected by the spill. The decision to pay this amount was made by the 9th Circuit Court of Appeals in response to a successful Exxon appeal …read more