25 Years Later, Exxon Valdez's Legacy Looms Large For BP

Law360, New York (March 24, 2014, 8:09 PM EDT) -- Twenty-five years ago Monday, the Exxon Valdez tanker ran aground in Alaska, spurring swift and comprehensive federal oil spill legislation. But as it turned out, it will be BP PLC, not Exxon, that will ultimately pay the price under those reforms.

The Exxon Valdez spill served as a wake-up call for lawmakers who wanted to deter bad conduct and make sure oil companies responsible for spills pay for the cleanup. The resulting legislation is now being used as a legal weapon by the U.S. Department of...
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