Julian2 Posted June 29, 2008 Report Share Posted June 29, 2008 Shit Where you Like Big Oil THE US Supreme Court has thrown out the record $US2.5billion in punitive damages Exxon Mobil Corp was ordered to pay for the disastrous 1989 When the Exxon Valdez crashed into a reef in Prince William Sound in 1989, 11 million gallons of crude oil spilled. By a 5-3 vote, the court ruled the punitive damages should be slashed to the total relevant compensatory damages of $US507.5million ($530million). The judges overturned a ruling by a US Court of Appeals that had awarded the record punitive damages to about 32,000 commercial fishermen, Alaska natives, property owners and others harmed by the US's worst tanker spill. In the majority opinion, judge David Souter concluded the $US2.5billion in punitive damages was excessive under federal maritime law, and should be cut to the amount of actual harm. Recent soaring oil prices have propelled Exxon Mobil to record profits. The company posted earnings of $US40.6billion last year. It took Exxon Mobil just under two days to bring in $US2.5billion in revenue during the first quarter of last year. Link to comment Share on other sites More sharing options...
Torneyboy Posted June 29, 2008 Report Share Posted June 29, 2008 The judges overturned a ruling by a US Court of Appeals that had awarded the record punitive damages to about 32,000 commercial fishermen, Alaska natives, property owners and others harmed by the US's worst tanker spill. Sux Link to comment Share on other sites More sharing options...
zen4dummies Posted June 29, 2008 Report Share Posted June 29, 2008 This Supreme Court will always be on the side of Big Business, regardless of what the situation is! Link to comment Share on other sites More sharing options...
Torneyboy Posted June 29, 2008 Report Share Posted June 29, 2008 Kick backs? Link to comment Share on other sites More sharing options...
cavanami Posted June 29, 2008 Report Share Posted June 29, 2008 The US presidents have been filling the Supremem Court with business friendly judges, so no surprise. Link to comment Share on other sites More sharing options...
rogueyam Posted June 29, 2008 Report Share Posted June 29, 2008 Still waiting for someone here to address the actual issues at hand. Link to comment Share on other sites More sharing options...
CTO Posted June 29, 2008 Report Share Posted June 29, 2008 That this happened in 1989 - 19 years ago - and still not resolved. Link to comment Share on other sites More sharing options...
Old Hippie Posted June 29, 2008 Report Share Posted June 29, 2008 Still waiting for someone here to address the actual issues at hand. The issues? You mean the fact that a tanker had an accident, spilled oil, fucked up the sound, cost people their livelihood and standard of living, largely due to negligence and now want compensation? Or do you mean "...a bunch of left wing commie puke environmentalists are trying to bilk big oil out of their money?" Link to comment Share on other sites More sharing options...
rogueyam Posted June 29, 2008 Report Share Posted June 29, 2008 The issues? You mean the fact that a tanker had an accident, spilled oil, fucked up the sound, cost people their livelihood and standard of living, largely due to negligence and now want compensation? If you were more intelligent and better educated you would realize that this USSC decision has nothing to do with compensation. Link to comment Share on other sites More sharing options...
Old Hippie Posted June 29, 2008 Report Share Posted June 29, 2008 If you were better educated and more intelligent, you'd be able to articulate that position without resorting to insults. Of course in your race to insult, you conveniently left out any facts or explanations. But then we have come to expect that from you. BTW, why are you posting on a Sunday? as a "Christian" shouldn't you be in church, thanking Jesus for being born a white Christian conservative? Or praying for all us sinners? Link to comment Share on other sites More sharing options...
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