Exxon Agrees to Pay $25 million for Superfund Cleanup in Newtown Creek
A three year New York lawsuit against ExxonMobil over the cleanup of Newtown Creek, a heavily polluted section of Brooklyn's Greenpoint area, has resulted in the oil giant's agreement to contribute $25 million to boost remediation of the area, as well as $5 million in penalties and costs.
Newton Creek was finally added to the Environmental Protection Agency's Superfund National Priorities List at the end of September, well over a century after heavy industrial activity contaminated the area with millions of gallons of oil, poisonous PCBs, pesticides, and other highly dangerous substances. Also responsible for major oil spills in the area are supermajors BP and Chevron.
The addition of many Congressional polluter-allies through the midterm elections doesn't bode well for the Superfund program, which went bankrupt in 2003 following a major loss of tax income in 1995. While the EPA has asked Congress for a renewal of taxation on petrochemical companies in order to fund the cleanup of their ongoing messes, as opposed to using public funds to take responsibility for the pollution. Industry opposition plays the same scare-cards we see over and over: forced outsourcing, dead jobs, and a loss of international marketplace competiton.
As ExxonMobil barely scrapes by with a 2009 profit of 19.2 billion and Chevron's meager $10.4 billion net revenue, it's understandable why the industry would be concerned. Exxon's recent $30 million commitment sucks up a staggering 0.002% of their 2009 profit.
This story was picked up from the New York Times.