Rachel Maddow details how world's most profitable company pays almost nothing for continuing violations of federal law...
By Brad Friedman on 4/8/2013, 2:48pm PT  

It's just the cost of doing business for the world's most profitable corporation. And that "cost" is barely a blip (that may be an overstatement) on their daily profit sheet.

As Rachel Maddow noted on Friday in the short report below, ExxonMobil is the nation's largest and most profitable corporation. It is larger than Walmart, Google, McDonald's, American Express and Goldman Sachs...combined.

And yet, the penalties they pay for violating federal safety laws leading to oil spills is almost nothing at all. For example, when Exxon was caught failing to inspect a portion of the Pegasus Pipeline --- the one fill with sticky, gooey, tar sands crude that we don't know how to clean up...the pipeline that ruptured last week in a suburban neighborhood in Mayflower, AR --- they were fined a grand total of $26,000.

That's a $26,000 fine out of the $122 million dollars in profit that Exxon makes in per day.

"There is nothing that Exxon fears from the federal government," Maddow notes. "They have so captured the parts of the government that are supposed to punish them when this sort of thing happens, that the pain that that sort of punishment could cause them, redounds to them, essentially, not at all."

Yes, it pays for companies like Exxon to violate the law with impunity, so it will be left to the people of Arkansas, as Maddow explains, to make the company pay any kind of real price for their crime...if they can...


More photos of the Pegasus tar sands pipeline rupture in Mayflower, AR, taken by the EPA, are now posted here. Give 'em a look. If President Obama approves the Keystone XL pipeline, this is the type of spill that could be coming to a neighborhood near you very soon.