Exxon agrees to pay out 75 percent of Valdez damages

Reuters ^

[Sub-Driver]

Exxon agrees to pay out 75 percent of Valdez damages Wed Aug 27, 2008 9:36am EDT

SEATTLE (Reuters) - Exxon Mobil agreed to pay out 75 percent of a $507.5 million damages ruling to settle the 1989 Exxon Valdez oil spill off Alaska, the Anchorage Daily News reported on Tuesday.

Citing both Exxon and the plaintiff's lawyer, the Anchorage Daily News said the oil giant will release about $383 million for distribution to the nearly 33,000 commercial fishermen and others who sued Exxon after the worst tanker crash in U.S. history.

[Sub-Driver]

And the lawyers all got rich........

[Sooth2222]

"...about $383 million for distribution to the nearly 33,000 commercial fishermen and others."

$11,606.06 to each of 33,000 fishermen?

Or $5,803.03 to each fisherman and $191,000,000.00 to one lawyer?

[imintrouble]

After twenty years at that!!

Not much for the little people as usual.

It’s all the cost of ‘doing biz’ to a large corporation and its insurers.

[cricket]

When will the 'Greenies' pay for their share of the disaster-debt because of their policies? When does it happen, that their 'conscience' is held to national/world scrutiny and their responsibility challenged and their financial responsibility demanded? (Or rather; 'why not?') While they are many; have only to think of one, in particular, that in light of Exxon litigation and Exxon payments, has me wondering about culpability here; and those demanding it.

How many lives lost; how much of our 'wildlife' destroyed; how many lives impacted as property is destroyed; not just in California; but add to the list, Montana, Arizona, Oregon, and Colorado - those states which have all suffered such destruction because of flawed, dangerous and failed Environmental policy?

How is it that the 'prevailing ignorance' that gives rise to these disasters is not a 'one time' mistake; but rather remains a preailing ignorance that allows this - now cyclic - destruction?

Is anyone, besides the taxpayer that is; paying for this determined ignorance? Apparently, while every capitalist-corporate violater is hunted down for an 'accident against nature'; it is 'policy as usual' at highest corporate-environmental eschelons. The disaster threats and those they devastate, be damned'.

Just a business as usual, for all, who wear their 'environmental badge'.

[houston1]

care to elaborate? you’re making a lot of accusations with no examples to back them up, how are environmentalists responsible for an oil tanker spill?

[Old Professer]

There was a report that the clean-up efforts of the well-intentioned did more damage to the biota by using steam machines on the beaches than the total caused by the actual spill.

Who knows?

[houston1]

oh, I must have missed that, but it sounds logical that a bunch of inexperienced volunteers could cause more problems then they solved

[cricket]

That was not my point at all, blaming environmentalist for this oil spill; rather, that when disasters occur (per statewide burning - because of 'ignorant environmental policies) - the response is quite different.

We expect 'Corporate responsibility' and our Courts - to address liabilities for 'mistakes make' - in this case - the cleanup post Exxon Valdez debacle. Have noticed, by contrast, that 'expectations' are quite the opposite when it comes to those disasters facilitated by 'faulty' environmental policies and those who determinedly implement them. Despite evidence that these policies offer not environmental sanctuary; but rather; are a potent environmental threat; these policies, nonetheless, remain in place; year after year.

Truth is, when it comes to Evironmenalists being in any way culpable; we hear nothing; and apparently 'expect' nothing in return for their efforts.