Exxon Valdez oil spill Exxon Valdez oil spill The "Exxon Valdez" oil spill occurred in Prince William Sound, Alaska, March 24, 1989, when "Exxon Valdez", an oil tanker owned by Exxon Shipping Company, bound for Long Beach, California, struck Prince William Sound's Bligh Reef, 1.5 miles west of Tatitlek, Alaska at 12:04 am local time and spilled (or a mass of 35,000 metric tonnes) of crude oil over the next few days. It is considered to be one of the most devastating human-caused environmental disasters. The "Valdez" spill is the second largest in US waters, after the 2010 "Deepwater Horizon" oil spill, in terms
Oil Pollution Act of 1990 which the discharge occurred. The Oil Spill Liability Trust Fund is a trust fund managed by the federal government and financed by a per-barrel tax on crude oil produced domestically in the United States and on petroleum products imported to the United States for consumption. The fund was created in 1986, but use of the fund was not authorized until the Oil Pollution Act's passage in 1990. The funds may be called upon to cover the cost of federal, tribal, state, and claimant oil spill removal actions and damage assessments as well as unpaid liability and damages claims. No more