Exxon Mobil (XOM) Wins in Oil Spill Case

A court in Alaska has ruled in favor of Exxon Mobil (NYSE:XOM) concerning a dispute over cleaning up oil allegedly left from the 1989 Exxon Valdez tanker spill.

A federal judge in Anchorage ruled against a request from former University of Alaska marine science professor Rick Steiner. He filed a motion attempting to force the oil company to pay a $92 million claim failed against Exxon in 2006 by the state and federal governments.

According to the the Anchorage Daily News, government lawyers are waiting for studies on the remaining oil and the effectiveness of cleanup techniques to be completed before pursuing the claim.

So-called environmentalists are attempting to extract more money from Exxon in order to clean up unproven residue.

Exxon was trading at $84.88, up $0.16, or 0.19 percent, as of 12:44 PM EST.