Word: valdez
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Meanwhile, state attorneys general in the Northwest and U.S. Senators from Nebraska called for a federal investigation into the sharp gasoline price increase since the March 24 Exxon Valdez spill...
...your administration was slow in responding to the Exxon Valdez oil spill. When Exxon failed to fulfill its responsibility to clean up the mess, the federal government could have acted to avoid irrevocable damage...
Until the grounding of the Exxon Valdez on March 24, the largest U.S. oil company had been cruising along with a good reputation and 1988 profits of $5.3 billion. But now Exxon faces not only a public outcry but also a financial liability that could dent its earnings and preoccupy its managers for years. Some 20 class-action lawsuits have already been filed on behalf of Alaskan fishermen and businesses. The company is even getting something of a cold shoulder on Wall Street, where last week it ran into unexpected trouble selling a $110 million issue of two-year bonds...
Conservation will not be easy, but the public's sense of horror over fouled beaches and dying animals could provide new motivation to save energy. If that happens, the wreck of the Exxon Valdez will not be an unmitigated disaster. It would be unrealistic to halt Alaska's oil business and unfair to demand that the state's people spend none of their wealth. But exploration and production can be carefully limited, and better environmental safeguards can be put in place. In the end, the battle for Alaska's future may be decided in the other 49 states. If Americans...
COVER: In the battle over exploitation of Alaska's vast resources, the tragic Exxon Valdez accident may give environmentalists the upper hand...