Consumer Law

Exxon Valdez Oil Spill Suit All But Over

By Andy Hoffman

It was just a couple of weeks ago that we were asking whether Exxon would finally pay what it owed the 33,000 or so Alaskans injured by its 1989, 11 million gallon oil spill into Prince William Sound.  Well, lo and behold, the Anchorage Daily News broke the story yesterday that the answer is yes?almost.

Exxon has now agreed to pay the $470 million in interest it had been dragging its feet in paying to ?Alaskan Natives, fisherman, business owners and others? affected by the spill.  However, the company is still battling to stick spill victims with a $70 million bill for ?fees and other costs? it incurred during its 20-plus years of appeals.

"Exxon is doing the right thing by stepping forward to compensate those Alaskans and others who are still feeling the effects of the oil spill 20 years later," said Senator Mark Begich (D-AK).  

But the company?s actions may actually have been motivated more by its desire to win a contract to build a ?massive North Slope gas pipeline? in the state, said Joe Balash, ?a member of the Palin administration?s gas pipeline team.?

"As far as what their ultimate strategy is, in my experience, Exxon doesn't do anything unless they think it's good for their shareholders," he said.

Full post as published by ThePopTort on June 30, 2009 (boomark / email).