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They pay nothing close to the cost of the cleanup. Exxon paid less than half of the cost of the Valdez spill, and recovered most of that from insurance claims a
by bluedanieru 15y ago
They pay nothing close to the cost of the cleanup. Exxon paid less than half of the cost of the Valdez spill, and recovered most of that from insurance claims anyway. They have held up on appeal further damages awarded by the courts for twenty-two fucking years. They still haven't paid.
If you think BP is going to pay anything close to the cost of the Deepwater Horizon spill, you really haven't been paying attention. The fact is that buying a stake in the legislature and the courts provides a much better ROI than investing in cleanup technologies.
- anamax 15y ago> recovered most of that from insurance claims anyway Insurance companies don't lose money in the long run, so Exxon paid that money too. Insurance companies make extra money by charging for more risk than is actually present. One way they can do that is by making certain things a condition of insurability.