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U.S. COURT CUTS EXXON VALDEZ PUNITIVE DAMAGES TO $2.5 BLN FROM $4.5 BLN
Reuters ^ | December 22, 2006

Posted on 12/22/2006 10:44:41 AM PST by HAL9000

U.S. COURT CUTS EXXON VALDEZ PUNITIVE DAMAGES TO $2.5 BLN FROM $4.5 BLN


TOPICS: Business/Economy; News/Current Events; US: Alaska
KEYWORDS: exxon; hazelwood; valdez

1 posted on 12/22/2006 10:44:44 AM PST by HAL9000
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To: HAL9000; Kathy in Alaska; All

OH KATHY ping youuu


2 posted on 12/22/2006 10:45:22 AM PST by SevenofNine ("Step aside Jefe"=Det Lennie Briscoe)
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To: HAL9000
AP - Court Cuts Valdez Judgment Against Exxon
3 posted on 12/22/2006 10:49:23 AM PST by HAL9000 (Get a Mac - The Ultimate FReeping Machine)
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To: HAL9000

So the price of Exxon/Mobil gas will decrease....


4 posted on 12/22/2006 10:52:43 AM PST by b4its2late (Liberalism is a hollow log and a mental disorder.)
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To: HAL9000

My God. This has been in litigation since 1989? Yikes.

Lots of dough for the lawyers.


5 posted on 12/22/2006 10:55:33 AM PST by RexBeach (In war there is no substitute for victory. - Douglas MacArthur)
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To: RexBeach

When you are talking about billions of dollars, ain't noone gonna biatch about your million dollar bills. License to print money.


6 posted on 12/22/2006 10:56:56 AM PST by ContemptofCourt
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To: b4its2late

Some freepers likely care more about the stock price, than the price at the pump........for those, this is Christmas early!


7 posted on 12/22/2006 11:36:28 AM PST by ConservativeDude
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To: RexBeach


Amazing, huh?


8 posted on 12/22/2006 11:38:02 AM PST by onyx (Phillip Rivers, LT and the San Diego Chargers! WOO-HOO!)
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To: RexBeach
"Lots of dough for the lawyers."

That decrease in punitive damage was because of all the Lawyer fees already paid, and the Judge decided enough was enough....

/sarc

9 posted on 12/22/2006 12:05:55 PM PST by traditional1
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To: RexBeach

my thoughts exactly.. lawyer fees are probably more than the lawsuit damages at this point


10 posted on 12/22/2006 12:13:52 PM PST by wafflehouse (When in danger, When in doubt, Run in circles, Scream and Shout!)
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To: HAL9000
I'm sure this savings will be passed right along to the consumer as it would have been if the judgement had been raised instead of cut.

Ok, you can burst out laughing now.
11 posted on 12/22/2006 12:14:51 PM PST by mysterio
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To: b4its2late

Transportation cost has just been raised $1-2 per barrel due to the low flow rate in the Alyeska Pipeline. Right away any cost saving from this penalty reduction is gone and then some.


12 posted on 12/22/2006 12:16:43 PM PST by RightWhale (RTRA DLQS GSCW)
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To: RightWhale

Darn!


13 posted on 12/22/2006 12:32:24 PM PST by b4its2late (Liberalism is a hollow log and a mental disorder.)
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To: HAL9000
Surging oil prices helped the No. 1 U.S. oil company post a near record high of $10.4 billion in the second quarter almost reaching the record high of $10.7 billion last year.

They can afford it.

14 posted on 12/22/2006 1:29:36 PM PST by mjp
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bump...


15 posted on 12/27/2006 5:07:46 AM PST by Responsibility2nd
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