Exxon released 10 million pounds of air pollution in Texas ($20 million in fines)
Exxon released 10 million pounds of air pollution in Texas
ExxonMobil has lost a legal fight against environmentalists in its home state of Texas over air pollution at one of the oil giant's oldest refineries.
by Matt Egan @mattmegan5 April 27, 2017: 4:25 PM ET
A Texas court ordered Exxon (XOM) on Wednesday to pay $20 million in fines for pollutants released into the air at the Baytown, Texas refining and chemical plant outside of Houston.
U.S. District Judge David Hittner cited "serious" violations that resulted in the release of about 10 million pounds of pollutants into the atmosphere.
The judge ruled in favor of the Sierra Club and Environment Texas Citizen Lobby, finding Exxon violated the Clean Air Act 16,386 times between October 2005 and September 2013.
The court found that Exxon enjoyed $14.2 million in economic benefits by delaying the installation of infrared imaging and other monitoring improvements at the facility, which makes everything from jet fuel to plastic.
http://money.cnn.com/2017/04/27/investing/exxon-fined-pollution-texas/index.html?section=money_markets&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_markets+%28CNNMoney%3A+Markets%29