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Asked by: Emigdia Ataide
business and finance gasoline pricesWhat were the monetary damages of the Exxon Valdez oil spill?
Last Updated: 24th June, 2020
After nearly 20 years, Exxon Mobil Corp. will have to pay punitive damages for the massive Valdez oil spill that devastated Alaska's Prince William Sound. But in its ruling Wednesday, the Supreme Court slashed those damages to about $500 million.
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Accordingly, what were the consequences of the Exxon Valdez oil spill?
When oil spilled from the Exxon Valdez oil tanker in 1989 into Alaska's pristine waters, animals and birds felt the immediate effects. For example, shortly after the spill, one quarter of a million seabirds, 2,800 otters, 300 harbor seals, 247 bald eagles, and 22 orcas were killed.
Additionally, how much money did it cost to clean up the Exxon Valdez oil spill? Exxon Valdez oil spill costs exceeded $7 billion Cleanup alone cost in the region of US $2.5 billion and total costs (including fines, penalties and claims settlements) have, at times been estimated at as much as US $7 billion.”
Besides, who was affected by the Exxon Valdez oil spill?
Both the long-term and short-term effects of the oil spill have been studied. Immediate effects included the deaths of 100,000 to as many as 250,000 seabirds, at least 2,800 sea otters, approximately 12 river otters, 300 harbor seals, 247 bald eagles, and 22 orcas, and an unknown number of salmon and herring.
What was the cause of the Exxon Valdez oil spill?
On This Day: Exxon Valdez Wreck Causes Massive Oil Spill. On March 24, 1989, the oil tanker Exxon Valdez struck a reef in Alaska's Prince William Sound, causing 11 million gallons of oil to spill into the water. It is one of the most environmentally damaging oil spills in world history.