67. The Catastrophic Exxon Valdez Oil Spill of 1989
Year: 1989
Location: Prince William Sound, Alaska, USA
Company: Exxon Shipping Company
Estimated Damage Value: 3.8 billion*
In 1989, the Exxon Valdez, navigating to California, met disaster in Alaska’s Prince William Sound, spilling 10.8 million gallons of oil. Owned by Exxon Shipping Company, the incident racked up $3.8 billion in damages, marking a monumental environmental disaster.
The Exxon Valdez incident holds a notorious place for its environmental repercussions, being the most severe oil spill from this perspective. Investigation revealed neglect in maintaining vital equipment and overworking the crew led to the disaster, challenging Exxon Shipping’s attempt to shift blame.