Supreme Court greatly reduces damages in Exxon Valdez spill

The Supreme Court on Wednesday brought to a close the 19-year legal battle over the Exxon Valdez oil spill by sharply reducing the punitive damages to be paid by Exxon Mobil Corp. The court ruled that the oil giant must pay $507 million -- about one-tenth of the original jury award -- to punish it for recklessly putting a known alcoholic in charge of a supertanker traveling a treacherous channel.

By David G. Savage

June 26, 2008