Will this be BP 20 yrs from now? Exxon drags its feet for 20 years to avoid paying damages.....

[1776Forever]

Exxon drags its feet for 20 years to avoid paying damages to struggling Alaskans, while making record profits

A BUZZFLASH NEWS ANALYSIS
by Meg White
02/23/2009

http://blog.buzzflash.com/articles/analysis/638

......The original amount of punitive damages to be paid to the fishermen was $5 billion. That amount was reduced to 4 billion, raised back up to $4.5 billion, then cut to $2.5 billion, then further reduced to $507 million. A Supreme Court ruling is expected soon on whether Exxon should pay interest on this payment after 20 years of waiting.

In a recent interview with In These Times, Cordova fisherwoman and marine biologist Riki Ott addressed the injustice of the Exxon settlement being whittled down:

"It was devastating. That's just 10 percent of the original award, and for the survivors, it will result in bankruptcies, foreclosures and people having to sell their homes and move away.

The jury didn't pull $5 billion from the air. They determined that this was the amount of one year's worth of net profit for Exxon, and that's what it would take to punish the corporation for the damage to our community. More than 6,000 people eventually lost their livelihoods because of the spill.

What the Supreme Court did was to decide that a one-to-one ratio of compensatory damages was just punishment under maritime law. So, Exxon's "punishment" was reduced to four days of net profit, instead of one year's worth. For them, this is not punishment. It's the victory of 'corpocracy.'"

Meanwhile, the fishermen of Cordova are worried about what that ultimate payment might mean. Of the original 32,000 plaintiffs against Exxon, 8,000 have liens on their settlements, meaning most if not all of the money Exxon owes them will go straight to the government. But the kicker is this: They'll still have to pay thousands in taxes on the supposed "windfall."

(more at link)

...........

Is anyone in D.C. really listening? Will this be the Gulf Region in 20 years from now? I sure as H hope not, but this is what Exxon's got away with!

[LakeSamish706]

1. If the Obama Administration allows them to get away with this, then yes. n/t

[Divine Discontent]

2. k&r

[1776Forever]

3. Wanted to give this one more kick

:kick:

[wordpix]

4. Obama admin and EPA should fine the max. $4300/gal. ---over $10.5 billion so far

That way, at least some money is flowing for cleanup and reparations to fishermen NOW

[1776Forever]

5. I agree with you! It won't be too much no matter what is done - Just do it! n/t