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Exxon Valdez $2.5 billion oil spill ruling overturned (AGAIN!)

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posted on Jun, 25 2008 @ 01:54 PM
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Exxon Valdez $2.5 billion oil spill ruling overturned (AGAIN!)


news.yahoo.com

The spill spread oil to more than 1,200 miles of coastline, closed fisheries and killed thousands of marine mammals and hundreds of thousands of sea birds.

A federal jury in Alaska awarded $5 billion in punitive damages in 1994. A federal judge later reduced the punitive damages to $4.5 billion, and the appeals court further cut it to $2.5 billion.
(visit the link for the full news article)




posted on Jun, 25 2008 @ 01:54 PM
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It says in the article that Exxon makes $2.5 Billion is 2 days! I thought the purpose of this suit was to punish them to make sure this type of catastrophe never happened again. This is an outrage.

news.yahoo.com
(visit the link for the full news article)



posted on Jun, 25 2008 @ 01:58 PM
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Is this not proof that the USA no longer exists, and there are only Exxon and the global corporations calling the shots in what was the USA?

Shouldn't everyone boycott purchasing petrol/gasoline from Exxon for the next week in protest of this heinous decision?



posted on Jun, 25 2008 @ 02:05 PM
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reply to post by Pellevoisin
 



I am afraid so, my friend. I just can't believe we have allowed an entity to get so big and so powerful to the point that they are above the law.

Remember how this all came about? Turned out Exxon was saving bucks and hired an alcoholic to drive the boat. This could have been avoided.



posted on Jun, 25 2008 @ 02:14 PM
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At the time of the spill, the original judgement equaled a year's profit for the company. The bottom line is it was Capt. Hazelwood's fault for being drunk at the helm... but you can't get nearly as much money from an individual as you can from a corporation, so Exxon took the brunt.

For the record, It took Exxon about 22 days to make a $2.5 billion profit from last year's full figures. money.cnn.com... I don't know where the 2 days thing comes from, but 2.5x10^9 / ($1,300)(3600 seconds per hour)(24 hours per day) equals 22.26 days to make $2.5 billion.



posted on Jun, 25 2008 @ 02:17 PM
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reply to post by burdman30ott6
 


I wonder why U.S. Americans don't just nationalise Exxon and put the profits into the national ... well, to pay off the U.S. national debt.

Yes, please do nationalise Exxon, and chop off its octopus arms from choking the world.



posted on Jun, 25 2008 @ 02:35 PM
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reply to post by Pellevoisin
 


Uh, probably because we're a capitalist nation founded on capitalist ideals instead of state run communism. Just a guess on my part, though.



posted on Jun, 25 2008 @ 02:38 PM
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one nation, under corporations with hegemony an injustice for those on the bottom.

disgusting ruling.



posted on Jun, 25 2008 @ 11:15 PM
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Originally posted by burdman30ott6
 


Uh, probably because we're a capitalist nation founded on capitalist ideals instead of state run communism. Just a guess on my part, though.


No, your nation may have been that at one time. Now your nation is in the thrall of globalism and corporatism in a rather diabolical transnational synergy.



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