Despite the expenditure of $2 billion that 
Exxon made after the most infamous 1989 oil spill, off the Alaskan coast (perhaps the biggest environmental disaster at sea, which is considered by the US government as the largest spill in US history), the company’s stock met only minor hiccups – and that too because of the unforeseen expenditure rather than because of the disaster caused – before recovering. Similarly, when the US oil giant Texaco pulled out of Ecuador in 1992, it had contaminated close to 18.5 billion gallons of groundwater and had poisoned rivers and streams on which the indigenous population depended. Stock price effects? Belligerently positive!
For Complete IIPM Article, Click on IIPM Article
Exxon made after the most infamous 1989 oil spill, off the Alaskan coast (perhaps the biggest environmental disaster at sea, which is considered by the US government as the largest spill in US history), the company’s stock met only minor hiccups – and that too because of the unforeseen expenditure rather than because of the disaster caused – before recovering. Similarly, when the US oil giant Texaco pulled out of Ecuador in 1992, it had contaminated close to 18.5 billion gallons of groundwater and had poisoned rivers and streams on which the indigenous population depended. Stock price effects? Belligerently positive!For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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