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 Pollution Act of 1990 limited safeguards against the hazards of oils spills. In 1976, a bill to create a cohesive safe measure for oil pollution was introduced to Congress. Neither the House of Representatives nor the Senate could agree on a single statue and the bill fell out of consideration numerous times. On March 24, 1989, the Exxon Valdez hit aground in the Prince Williams Sound and spilled nearly 11 million gallons of crude oil—the largest marine oil spill in recorded history up to that point. Soon afterward, in June 1989, three smaller spills occurred within coastal waters of the United States. This was