S&P 500
7,588.60
+0.51%
Dow Jones
52,758.90
+0.47%
Nasdaq 100
29,885.70
+0.46%
Russell 2000
2,982.51
-0.27%
FTSE 100
10,543.60
+0.61%
Nikkei 225
69,317.20
+0.42%

Energy

Exxon Mobil Sued for Arkansas Pipeline Break

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Oil spill

Thinkstock
A crude oil pipeline owned by Exxon Mobil Corp. (NYSE: XOM) ruptured on March 29 in Mayflower, Ark., just outside Little Rock, as much as 19,000 barrels of heavy crude spilled into the streets and yards. The Pegasus pipeline is still out of service.

Late yesterday the state attorney general and the U.S. Environmental Protection Agency (EPA) sued the company for improper waste storage and water contamination related to Exxon’s action during the clean-up effort. The company is charged with storing contaminated material alongside a highway without a permit, which could cost Exxon $25,000 per violation.

The suit also seeks penalties for violations of state and federal clean air and water laws and penalties could cost Exxon another $10,000 per violation per day. The attorney general said:

This spill disrupted lives and damaged our environment. As the party responsible for this incident, Exxon is also responsible for the penalties imposed by the state for the damage to our environment and the company should foot the bill for the state’s clean-up costs.

Residents affected by the spill have filed a class-action suit seeking $5 million in damages from Exxon.

Contact [email protected] for any questions or corrections.

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Paul Ausick |

Transocean Will Pay $1.4 Billion for Gulf Spill

ThinkstockTransocean Ltd. (NYSE: RIG), the owner and operator of the Deepwater Horizon rig that exploded and burned in 2010, taking…

Paul Ausick |

BP to File $18 Billion Settlement Agreement Monday

BP announced in early July that it had reached an agreement in principle with the U.S. Department of Justice and…

Paul Ausick |

Did BP Get Off Lightly in $18.7 Billion Gulf Settlement?

BP announced Thursday morning that it had agreed in principle to settle all federal and state legal claims related to…

Douglas A. McIntyre |

Government Attacks BP Over Gulf Cleanup Assessment

The Deepwater Horizon spill has done much more damage to the Gulf of Mexico than BP claims, according to the…

Jon C. Ogg |

Oil Spill Lessons: Boom for Environmental and Clean-Up Outfits (NLC, CLH, NR, XOM, COP, CEO, RDS-A, TRP, ECL)

Companies that provide the tools and services to clean up oil spills made the news following last year’s disaster in…

Paul Ausick |

Update: BP Employees Charged with Manslaughter in Gulf Disaster

courtesy of BP plcIn a press conference this afternoon, the U.S. Department of Justice said that two employees of BP…

Dakota Access Pipeline Builders Sue Greenpeace, Others on Racketeering Charges
Paul Ausick |

Dakota Access Pipeline Builders Sue Greenpeace, Others on Racketeering Charges

Energy Transfer Partners and its general partner have filed a lawsuit against groups that sought to stop the Dakota Access…

247sam |

Exxon Oil Spill in Arkansas, Keystone Spoiler?

ThinkstockThe rupture of an Exxon Mobil Corp. (NYSE: XOM) pipeline on 29 March in Mayflower, Arkansas, just northwest of Little…

Jon C. Ogg |

Exxon’s Weekend Holiday Gift: Oil Spill Hits Yellowstone River (XOM, COP, CHSCP, TRP)

coutesy of Exxon Mobile Corp.In the early morning hours Saturday, July 2nd, a 12-inch crude oil pipeline owned and operated…

Top Gaining Stocks

Meta
META • Vol: 40,760,422
CarMax
KMX • Vol: 2,288,021
Weyerhaeuser
WY • Vol: 6,523,553
SBA Communications
SBAC • Vol: 1,443,801
NVIDIA
NVDA • Vol: 148,249,982

Top Losing Stocks

Moderna
MRNA • Vol: 9,176,778
Coterra Energy
CTRA • Vol: 73,319,495
CrowdStrike
CRWD • Vol: 9,269,567
Datadog
DDOG • Vol: 5,135,556
EPAM Systems
EPAM • Vol: 1,164,561