What were the monetary damages of the Exxon Valdez oil spill?

What were the monetary damages of the Exxon Valdez oil spill?

Exxon Valdez devastated local fishing and the tourism economy. The spill caused more than $300 million of economic harm to more than 32,000 people whose livelihoods depended on commercial fishing, according to Oceana.

What is the biggest reason that the $500 million in punitive damages that Exxon was forced to pay as a result of a lawsuit considered unsatisfactory?

Supreme Court Cuts Exxon Valdez Oil Spill Damages The Supreme Court rule that the punitive damage award imposed on Exxon, stemming from the huge oil spill in Alaska, was excessive.

How much did Exxon pay in punitive damages for the oil spill?

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.

What were the short term effects of the Exxon Valdez oil spill?

The oil killed and injured seabirds, sea otters, harbor seals, bald eagles, orcas and other wildlife. Eventually, oil from the spill affected more than 1,000 miles of Alaska’s remote and rugged coastline.

Who was at fault for the Exxon Valdez oil spill?

Drinking by the ship’s captain, a fatigued and overworked crew and inadequate traffic control by the Coast Guard all contributed to the enormous oil spill by the Exxon Valdez off the Alaskan coast last year, the National Transportation Safety Board ruled today.

Who cleaned up the Exxon Valdez oil spill?

In the months after the Exxon Valdez oil spill, Exxon employees, federal responders and more than 11,000 Alaska residents worked to clean up the oil spill. Exxon payed about $2 billion in cleanup costs and $1.8 billion for habitat restoration and personal damages related to the spill.

How long did it take to clean up the Exxon Valdez oil spill?

around three years
Clean-Up of the Exxon Valdez Spill The entire course of the clean-up operation took around three years from 1989 to 1992 and even now, monitoring is being carried out in the entire length of the coastline to observe any late-emerging effects of the oil spill.

Is there still oil in Prince William Sound?

A small portion of the oil from the 1989 Exxon Valdez spill still lingers in patches beneath Prince William Sound, Alaska, beaches. However, this and other studies suggests the remaining oil is sequestered, or buried, and currently is not posing a risk to the coastal and marine ecosystem.

How did the government respond to the Exxon Valdez oil spill?

In the aftermath of the Exxon Valdez incident, Congress passed the Oil Pollution Act of 1990, which required the Coast Guard to strengthen its regulations on oil tank vessels and oil tank owners and operators.