Blue Herald
25
Jun
A Great Injustice?
by Buck • 3:31 pm

I really don’t know how to feel about this one. These people have had to wait all this time for justice to be rendered. And when it came, it came with a pretty harsh slap.

I have to say I’m a little on the fence with this one. Someone close to me works in trucking insurance. In case after case, it seems the common theme is that it doesn’t really matter who is at fault, it’s who has the deeper pockets. And that usually proves to be the trucking company. And that infuriates me! We often hear how the big, bad truck driver, driving that rally big, un-safe truck, jack-knifed and caused all the damage. In truth, it’s usually an irresponsible motorist in his “4-wheeler” that started the disastrous chain of events.

We know beyond a shadow of a doubt that Exxon is guilty of this crime. And Exxon should pay. But $2.5 billion? Reducing that amount to $507.5 million just seems more rational. It’s sad these people have been put on hold for so many years. But by going for such a large judgment, they may have shot their own selves in the foot.

If we are to learn anything from this case it’s that large companies such as Exxon can not be trusted with their word when they say they will do everything in their power to not bring harm onto the environment. THEY WILL! They make mistakes. And they know how to “work” the American justice system. We must work hard and continue to refuse access to environmentally-sensitive areas to Exxon and all other large oil corporations.

Exxon Valdez $2.5 billion oil spill ruling overturned

WASHINGTON (Reuters) - The U.S. Supreme Court on Wednesday threw out the record $2.5 billion in punitive damages that Exxon Mobil Corp had been ordered to pay for the 1989 Exxon Valdez oil spill off Alaska, the nation’s worst tanker spill.

By a 5-3 vote, the high court ruled that the punitive damages award should be slashed — limited by the circumstances of the case to an amount equal to the total relevant compensatory damages of $507.5 million. [...]

In the majority opinion, Justice David Souter concluded the $2.5 billion in punitive damages was excessive under federal maritime law, and should be cut to the amount of actual harm.

And now, the pisser:

Soaring oil prices have propelled Exxon Mobil to previously unforeseen levels of profitability in recent years; the company posted earnings of $40.6 billion in 2007.

It took Exxon Mobil just under two days to bring in $2.5 billion in revenue during the first quarter of 2007.



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