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Big Business

February 28th, 2008 · No Comments

Exxon has been postponing paying off a punitive damages suit for $2.5 billion for several years.  This suit brought on when the Exxon Valdez spilled 11 million gallons of oil in Prince William Sound Alaska, due to the incompetent actions of drunk Captain Joseph Hazelwood.  This $2.5 Billion,  down from the $5 Billion initially awarded is meant to compensate the residents who’s livelyhood is drawn from the area, and who suffered at the hands of Exxon and its agents.  To put this in perspective,  Exxon’s profits for just last years, was $40.6 Billion.

Exxon certainly does not base their business practices on kharma.

For more about the numbers involved in this spill see this article by the Anchorage Daily News.

Tags: Green · Nature

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