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The Exxon Valdez Reopener: Natural Resources Damage Settlements And Roads Not Taken, William H. Rodgers, Jr., J.B. Crosetto Iii, C.A. Holley, T.C. Kade, J.H. Kaufman, C.M. Kostelec, K.A. Michael, R.J. Sandberg, J.L. Schorr
The Exxon Valdez Reopener: Natural Resources Damage Settlements And Roads Not Taken, William H. Rodgers, Jr., J.B. Crosetto Iii, C.A. Holley, T.C. Kade, J.H. Kaufman, C.M. Kostelec, K.A. Michael, R.J. Sandberg, J.L. Schorr
Articles
The 1989 Exxon Valdez oil spill caused extensive natural resource damage to the Prince William Sound. Lawsuits addressing this natural resource damage resulted in a settlement that required Exxon to pay $900 million over time to trustees charged with spending this money to restore the damaged environment of the Sound and nearby areas. The settlement included a “Reopener Clause,” which pledges Exxon to spend an additional $100 million to fund restoration or rehabilitation of resources whose injuries were not foreseeable in 1989.
This Article urges the State of Alaska and the United States to seek enforcement of the Reopener Clause, …