Exxon Mobil to pay nearly $7 billion in spill damages
Thursday, January 29, 2004
ANCHORAGE, Alaska -- A federal judge on Wednesday ordered Exxon Mobil Corp. to pay about $6.75 billion to thousands of Alaskans affected by the 1989 Exxon Valdez oil spill. The ruling is the latest of several damage awards in the case over the past decade -- the result of successful appeals in federal court by Exxon. The company plans to appeal again. Wednesday's ruling by U.S. District Judge Russel Holland ordered the Irving, Texas-based company to pay $4.5 billion in punitive damages and about $2.25 billion in interest. The money is to go to 32,000 fishermen, Alaska Natives, landowners, small businesses and cities affected by the 11 million-gallon spill in Prince William Sound.
Subscribe below or log in with your password here.
For more than 115 years, the Southeast Missourian has written the first draft of local history. We have aspired to enrich, entertain, educate and inform. Our core values have remained firm: truth, service, quality, integrity and community. Support our mission.
Join today
Note: Special discounts available to new subscribers only. Print subscriptions may include up to 13 Premium Issues per year, which include special magazines. For each Premium Issue, your account balance will be charged an additional fee in the billing period when the section publishes. This will result in shortening the length of your billing period.