Exxon Valdez Settlement: : Unbelievable!

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In 2008, Exxon Mobil Corporation enjoyed the largest profit of any Company in U.S. History; 45.2 billion dollars. The largest profit of any U.S. Company prior to this was 40.6 billion dollars in 2007 by Exxon Mobil Corporation.
In July of 2008, the price of a barrel of crude oil was $145.00 per barrel. Each barrel contains 42 gallons of oil. About 4.2 gallons of gasoline can be produced from that 42 gallons; or ten percent. The average price for a gallon of gasoline at that time was $4.11 per gallon. At this rate, Exxon made a profit of 6.6 cents per gallon of gas that it sold. In March of 2009, crude oil is selling at $41.65 per barrel. The average price for a gallon of gasoline is $1.93 per gallon. Though you may be comfortable paying that amount, using the same formula, Exxon now makes a profit of 9.2 cents per gallon.
In 1989, the Exxon Valdez spilled over 11 million gallons of crude oil into the Prince William Sound. A Federal Jury awarded the thousands effected by the spill 5 billion dollars in damages. In 1994, Exxon was able to get that amount lowered to 2.5 billion. Twenty years after the spill, In June of 2008, the long suffering citizens, many of whom have passed on and the rest virtually given up hope, in the midst of the largest profit year in history and the most severe downturn in our economy since the Depression, the Supreme Court lowers the 2.5 billion dollar fine to 50.7 million dollars. A slap in the face to all American citizens. Corporate Greed pure and simple.
I am calling for a boycott of all Exxon Mobil Corporation products beginning on this day; March 5th, 2009. I will not purchase another drop of Exxon gasoline until the 5 billion dollars originally awarded the citizens effected by Exxon's neglect is reinstated and until the price of a gallon of gasoline is lowered to reasonable levels; a minimum of 4.5 cents per gallon profit. Perhaps Rex Tillerson; Exxon CEO would like to donate some of the 21.7 million dollars he made in 2007 to the cause. By the way, Mr Tillerson received a 10\% raise this year. That 10\% would be a good start.
Where's the Love Exxon?


32 Signatures

  • Roger Howard
  • Tom Owens
  • Thomas Roberts
    • Comments
    • Exxon helped pay for the clean-up, The least they could do. What about the lives that they ruined (animal and human)? Clearly they are weaseling out of their responsibility with every legal trick that they can muster. Lets not forget as they hope we will.
  • Brian Couch
  • Stephen H. Pitell
    • Comments
    • Justice delayed is justice denied, and as with all legal matters some arbitrary number needs to be used to define when delay of legal matters has gone beyond ineptitude to illegality. Certainly, 20 years is too long. Additionally, those responsible for disbursing the funds may have gone beyond the limits to how long it can take to disburse the funds legally awarded to a plaintiff. Thirdly, I would like to point out that transparency of the process has been sorely missing in this case from the beginning. No explanation has been made to me how the funds will be divided up, and why they use the formula that they end up using. I am a fisherman is Alaska, and I cannot believe that no information has been given to me regarding the settlement. The whole system seems flawed, and the only recourse would be to file another lawsuit which would probably take another 20 years to resolve - at which time I would be 77 years old. I was in my mid 30's when this all began. That is more than half a lifetime. So what can I do?
  • Jordan Macarus
    • Comments
    • If we don't all work together soon, the planet will become uninhabitable for humans as well as the truly innocent creatures of Earth.
  • Erik Anderson
  • thekla von Hagke
  • gerald p patyten
  • Jenna Owens
  • Adrian T. Darnaby
    • Comments
    • HAIL CAESAR
  • Michael Perry
    • Comments
    • Unbelievable
  • Michael R Perry Jr
  • Teresa Cook
  • Steve Gossman
  • Ken Brunson
  • Bill Hurley
    • Comments
    • Also, Exxon is notorius (unlike BP) for anti-environmental stands.
  • William H Mullen
    • Comments
    • Have you no shame?
  • Dana C. Anderson
  • Virginia M. Salkowski
    • Comments
    • exxon mobil is polluting scum
  • Ed Gallagher
  • Lianne Thompson
    • Comments
    • В
  • Michael Manzulli
  • Brian Fourman
  • Angela Guidici
  • Ann Hunter
  • Thomas P. Owens, Sr
    • Comments
    • Correction: The settled amount is $500.7 million, not $50.7 million. This is roughly 10\% of the initially ordered 5 billion.
  • Galen Kistler
  • Phillip Young
    • Comments
    • If it has Exxon Mobil on the label I'm not buying it
  • Kyle Hackmeister
    • Comments
    • Weatherford employee.
  • Sandra DeJean
    • Comments
    • Down with all of them: Exxon, Texaco/Chevron, BP etc.
  • judith stone-aaen