• 7 minutes Get First Access To The Oilprice App!
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 17 minutes Renewables in US Set for Fast Growth
  • 5 hours Socialists want to exorcise the O&G demon by 2030
  • 9 mins Chinese FDI in U.S. Drops 90%: America's Clueless Tech Entrepreneurs
  • 20 hours Oceans "Under Fire" Of Plastic Trash
  • 2 days Is Natural Gas Renewable? I say yes it is.
  • 2 hours Good Marriage And Bad Divorce: Germany's Merkel Wants Britain and EU To Divorce On Good Terms
  • 15 hours Cheermongering about O&G in 2019
  • 2 days Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 21 hours Duterte's New Madness: Philippine Senators Oppose President's Push To Lower Criminal Age To 9
  • 2 days Making Fun of EV Owners: ICE-ing Trend?
  • 6 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 1 day North Sea Rocks Could Store Months Of Renewable Energy
  • 2 days Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 2 days Orphan Wells

Supreme Court Justice Sells Exxon Shares

Court

U.S. Supreme Court Justice Samuel Alito has sold off his stock in Exxon Mobil Corp. worth up to $250,000, according to Reuters.

In 2008, Justice Alito had to step away from a case involving Exxon, which led to a reduction of punitive damages to be paid by Exxon for the 1989 Exxon Valdez oil tanker spill off Alaska. When this case was in court, Alito owned Exxon stock worth more than $100,000.

According to Bloomberg, with Alito stepping down from the Exxon case, the court was evenly split.

On 24 March 1989, the tanker, Exxon Valdez, ran aground, spilling 240,000 barrels of crude oil into Alaska's Prince William Sound. The court decision reduced punitive damages to be paid by Exxon from $2.5 billion to around $500 million.

Judge Alito received the Exxon-Mobil stock as a bequest in May 2004, with the source of the bequest undisclosed, according to the Wall Street Journal.

Related: Get Ready For $80 Oil

A recent report from the Center for Public Integrity said that at least six — and perhaps as many as all eight — U.S. Supreme Court justices are worth at least $1 million.

The center listed Stephen Breyer as worth at least $6.1 million but possibly as much as $16 million. Second on the list was Chief Justice John Roberts, with a net worth of at least $4.2 million, followed by Ruth Bader Ginsburg, Alito, Sonia Sotomayor and Elena Kagan worth more than $1 million.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Russian Jew on June 22 2016 said:
    So justices are filthy rich - I got it. Now what does Center for Public Integrity say about Clintons?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News