A crude oil pipeline owned by Exxon Mobil Corp. (NYSE: XOM) ruptured on March 29 in Mayflower, Ark., just outside Little Rock, as much as 19,000 barrels of heavy crude spilled into the streets and yards. The Pegasus pipeline is still out of service.
Late yesterday the state attorney general and the U.S. Environmental Protection Agency (EPA) sued the company for improper waste storage and water contamination related to Exxon’s action during the clean-up effort. The company is charged with storing contaminated material alongside a highway without a permit, which could cost Exxon $25,000 per violation.
The suit also seeks penalties for violations of state and federal clean air and water laws and penalties could cost Exxon another $10,000 per violation per day. The attorney general said:
This spill disrupted lives and damaged our environment. As the party responsible for this incident, Exxon is also responsible for the penalties imposed by the state for the damage to our environment and the company should foot the bill for the state’s clean-up costs.
Residents affected by the spill have filed a class-action suit seeking $5 million in damages from Exxon.
Smart Investors Are Quietly Loading Up on These “Dividend Legends”
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats.
There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside.
If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.