Word: exxon
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Dates: during 1990-1999
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...federal jury ruled that Exxon Corp. must pay $286.8 million to 10,000 commercial fishermen for loss of income from the 1989 spill in Prince William Sound. The compensation is far less than the $895 million demanded by the fisherman but more than double what Exxon said it was willing to pay: $113 million. Now, it's on to the final stage of lawsuits in connection with the spill. Up next: a $15 billion claim for punitive damages against Exxon, which will include the commercial fishermen, Native Eskimos and others...
Paying Up for the Exxon Valdez...
...Exxon agreed to pay $20 million to 3,500 Alaska Natives who claimed losses as a result of the 1989 oil spill in Prince William Sound. This is the first time individuals have been awarded money in connection with the spill, but it may be just the tip of the liability iceberg for the multibillion-dollar corporation. Within days, a lawsuit filed by fishermen claiming $895 million from the company will be decided. What to watch for: a massive $15 billion claim for punitive damages against Exxon, likely to be brought by nearly everyone who claims to have been affected...
...miles. A chain saw operated for two hours produces hydrocarbons equivalent to those emitted by a new car driven 3,000 miles. Furthermore, the Environmental Protection Agency estimates that 17 million gal. of fuel are spilled each year just refueling such equipment -- more than the amount spilled by the Exxon Valdez in the Gulf of Alaska...
...decision that could dig deep into the Exxon Corp.'s pockets, an Alaska federal jury concluded that the oil giant was reckless in permitting a captain with a history of drinking to command the Exxon Valdez, the oil tanker that ran aground five years ago in Prince William Sound and caused the nation's worst oil spill. The verdict against Exxon and Captain Joseph Hazelwood enables local residents to seek $1.5 billion in compensation and $15 billion in punitive damages...