CHRIS WILKINS / AFP/GETTY IMAGES
Wednesday, June 25, 2008
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Exxon Valdez Spill
An oil skimming operation works in a heavy oil slick near Latouche Island near the southwest end Prince William Sound April 1, 1989 in Valdez. The US Supreme Court ruled June 24, 2008 that punitive damages and interest imposed on ExxonMobil over the 1989 Exxon Valdez oil spill disaster were excessive and should be drastically reduced. The high court ruled that 2.5 billion dollars in punitive damages against the oil giant should be slashed to 507 million dollars. It was the latest twist in a long-running saga which began when the Exxon Valdez crashed into a reef in Prince William Sound, Alaska, on March 24, 1989 spilling 11 million gallons of crude into the waters.
