Louisiana Light • 2 days | 72.37 | -1.54 | -2.08% | |||
Bonny Light • 2 days | 76.37 | +0.64 | +0.85% | |||
Opec Basket • 2 days | 75.88 | +1.13 | +1.51% | |||
Mars US • 4 hours | 68.46 | -0.70 | -1.01% | |||
Gasoline • 4 hours | 2.589 | -0.017 | -0.67% |
Bonny Light • 2 days | 76.37 | +0.64 | +0.85% | |||
Girassol • 2 days | 76.59 | +0.43 | +0.56% | |||
Opec Basket • 2 days | 75.88 | +1.13 | +1.51% |
Peace Sour • 19 hours | 64.21 | -0.94 | -1.44% | |||
Light Sour Blend • 19 hours | 65.51 | -0.94 | -1.41% | |||
Syncrude Sweet Premium • 19 hours | 74.46 | -0.94 | -1.25% | |||
Central Alberta • 19 hours | 63.81 | -0.94 | -1.45% |
Eagle Ford • 2 days | 66.44 | -0.94 | -1.40% | |||
Oklahoma Sweet • 2 days | 66.50 | -1.25 | -1.85% | |||
Kansas Common • 24 days | 64.52 | +0.64 | +1.00% | |||
Buena Vista • 2 days | 76.62 | -0.94 | -1.21% |
The International Monetary Fund's prediction…
The U.S. oil rig count…
The U.S. Supreme Court will not hear an appeal by ExxonMobil to overturn a $236-million verdict against the company for decade-old water contamination charges in New Hampshire.
On Monday, the Supreme Court refused to hear the appeal. The case is now officially closed after a drawn-out legal drama that began in 2003.
That year, the state of New Hampshire’s Attorney General sued ExxonMobil and 21 other companies for contaminating the state’s water supply through the addition into the state’s gasoline of a compound called MTBE, which is said to be highly toxic.
Related: What Experts Miss When Discussing Peak Oil
Eventually, the companies switched additives away from MTBE and towards ethanol, but the lawsuit argued that the toxic compound had filtered through to the drinking water.
The 21 other companies settled out of court for a total settlement of US$136 million; however, Exxon pursued the case further.
After a three-month trial that started in January 2013, Exxon lost in a U.S. District Court in Concord, when a jury ruled that the company had practiced negligence. The jury awarded the state of New Hampshire US$236 million.
Related: Bakken Output Continues To Fall Along With Rig Count
Exxon has argued that regulations mandated additives be mixed with gasoline, and that local gas stations and other businesses should have also shared some of the responsibility. It has also argued that the state of New Hampshire violated its due process rights during the course of the lawsuit.
The case is ExxonMobil v. New Hampshire, U.S. Supreme Court, No. 15-933.
ADVERTISEMENT
By Charles Kennedy of Oilprice.com
More Top Reads From Oilprice.com:
Auto Industry In Turmoil: Car Dealers Crushed By Price Squeeze
Ecuador Calls Force Majeure On Almost All Of Its Oil Production
Oil Prices Crash Below $70 As Credit Suisse Shares Tumble
Three Fires At Pemex Facilities In One Day
Academics: Russia Selling Oil Way Over Price Cap
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com