Oil dollars

Year Published:  1989
Resource Type:  Article
Cx Number:  CX3665

Abstract: 
The Exxon Corporation is expected to have to pay hundreds of millions of dollars to clean up its Alaskan oil spill and to pay for related damages. Experts predict that the total bill to Exxon will total some $500 million. Shareholders need not panic, however -- $500 million represents about two days' worth of revenues for the oil giant, whose revenue last year was $88.6 billion, and whose annual profits were $5.3 billion.