Oil Spills Alaska

Four months after the nation's largest oil spill blackened Prince William Sound, Alaska has become a state that has lost its equilibrium. People who used to make money aren't. Those who used to be on the outs--itinerants and part-time workers--are making big bucks. Fishermen who operate from boats have all but been shut down, while those who string nets close to shore are making millions.

Haunted by the Exxon Valdez oil spill and a recent rash of refinery accidents, the oil industry has embarked on an unprecedented round of soul-searching. Oil executives meeting here the past few days recognize that their credibility has taken a severe beating lately, and they expect to continue paying dearly for their mistakes.

Exxon Corp. will have to lay out less than half the $1.125 billion it agreed to pay in an out-of-court settlement with Alaska and the federal government over environmental damage from the Exxon Valdez oil spill, according to an Alaskan legislative study. Tax benefits and the fact that Exxon will pay the bulk of the settlement--the $900-million civil portion--over 10 years are the reasons for the lower real cost, according to the study.

Exxon Corp. and its shipping subsidiary pleaded guilty Friday to misdemeanor violations in the nation's worst oil spill under a plea agreement with the federal government. U.S. District Judge Russel Holland allowed the pleas but delayed sentencing until he gathers public comment on the plea agreement. He set sentencing for April 24. If Holland rejects the agreement, the corporation can withdraw its pleas. If he accepts it, federal felony charges against the oil company will be dropped.

Nearly 60,000 acres of land damaged by the Exxon Valdez oil spill was turned over to the U.S. and Alaskan governments Wednesday to ensure their recovery and future protection. The land was purchased for $34 million from the Chenega Corp., an Alaskan native village. The funds came from the $1-billion settlement of the 1989 accident that fouled 1,500 miles of shoreline in Prince William Sound. Most of the land will be incorporated into the Chugach National Forest.

Money linked to the devastating Exxon Valdez oil spill that fouled Alaska shorelines will be used to clean up another oil-tainted coastline--the Bolsa Chica wetlands. Those drafting the public purchase of Bolsa Chica learned Thursday that the U.S. Environmental Protection Agency will contribute $400,000 set aside from a settlement reached after the devastating 1989 Exxon spill. The money is part of a much larger sum the oil giant paid the U.S.

Workers excavated part of the trans-Alaska pipeline for the second day Monday, seeking the source of a leak spilling oil underground, officials said. The amount of oil spilled was unknown, but test digs found that it had not spread to a stream or gully in the area, according to its operator, Alyeska Pipeline Service Co., and regulators overseeing the system.