Exxon Back in Court Over Valdez Oil Spill

The question is whether or not the largest and most profitable company on earth should have to pay $2.5 billion to fishermen, landowners, businesses, communities and Native Alaskans harmed by the 1989 Valdez oil spill.

The answer will determine not only that, but also how much companies have to pay in punitive damages for pollution in cases as yet undreamed of.

That's because the Supreme Court will hear arguments in the case, and the verdict will set precedent.

Even a huge sum like $2.5 billion looks wan considering that Exxon-Mobil made more than $9 billion in profits – a record – in the first quarter of 2008 alone.

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