ExxonMobil the Exxon Building (1251 Avenue of the Americas), its former headquarters in Rockefeller Center, to a unit of Mitsui Real Estate Development Co. Ltd. in 1986 for $610 million, and in 1989, moved its headquarters from Manhattan, New York City to the Las Colinas area of Irving, Texas. John Walsh, president of Exxon subsidiary Friendswood Development Company, stated that Exxon left New York because the costs were too high. On March 24, 1989, the Exxon Valdez oil tanker struck Bligh Reef in Prince William Sound, Alaska and spilled more than of crude oil. The Exxon Valdez oil spill was the
Oil tanker serious than spills from non-tank vessels. The International Tanker Owners Pollution Federation has tracked 9,351 accidental spills that have occurred since 1974. According to this study, most spills result from routine operations such as loading cargo, discharging cargo, and taking on fuel oil. 91% of the operational oil spills are small, resulting in less than 7 metric tons per spill. On the other hand, spills resulting from accidents like collisions, groundings, hull failures, and explosions are much larger, with 84% of these involving losses of over 700 metric tons. Following the "Exxon Valdez" spill, the United States passed the Oil