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Exxon Makes A Deal In The Valdez Case


In Business This Week

EXXON MAKES A DEAL IN THE VALDEZ CASE

Two years after one of its tankers spilled oil into Prince William Sound, Exxon on Mar. 13 agreed to a $1 billion settlement of state and federal environmental claims against it. Exxon will pay $900 million in civil damages to federal and state trustees over 10 years and a record $100 million fine to settle criminal charges brought by the Justice Dept. Proceeds of the fine will be split, with $50 million going into the U. S. Treasury and the other half going to Alaska.EDITED BY HARRIS COLLINGWOOD


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