Ka-Ching! Exxon Cashes In On Supreme Court, Inc.
by ItsNeverOver, Wed Jun 25, 2008 at 03:19:45 PM EDT
In 1989, Exxon Mobil caused the biggest oil spill in U.S. history. The accident, which dumped 11 million gallons of oil into Alaska's Prince William Sound, caused the deaths of hundreds of thousands of marine wildlife, and caused 33,000 Alaskans to file for compensation for economic loss and punitive damages.
They are still waiting to be paid.
It seems paradoxical that, in an age where it is apparent that big oil represents an outdated form of energy supply, oil companies are still trying to rake in the big bucks. After being charged in 1994 for punitive damages, Exxon, preparing to launch a long, drawn out fight against the decision, put aside the amount they owed in a private account; now, the amount that Exxon owes essentially equals the interest that they've made from that account. Fossil fuels represent our past, not our future, so why would the Supreme court come to big oil's rescue?






