Thursday, February 01, 2007

Timing is everything.
I was just scanning over the news headlines and saw two stories related to Exxon Mobil on two different subjects.
The first was a report on the lingering damage caused by the Valdez spill 20 years ago:
Exxon estimates it has paid $3-billion (U.S.) in cleanup costs, government settlements, fines and compensation. But it still has not paid an unresolved punitive damage judgment, originally set for $5-billion by a federal jury in 1994.

The case has since bounced between the federal court and the 9th U.S. Circuit Court of Appeals. In December, the appeals court ruled that the oil giant must pay $2.5-billion to compensate thousands of fishermen and others affected by the spill.

Earlier this month, Exxon asked the court to reconsider its decision.

The second, ironically was about how 2006 was a record year for Exxon Mobil, posting a profit of $39.5 billion.

Does anyone else have an issue with this?

1 Comments:

Anonymous Grokodile said...

Sigh, that sucks! Of course, if they actually paid their fines they wouldn't have quite as much in the bank...

5:59 PM  

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