Grupo Mexico gained control of a company (Asarco) that had violated environmental laws for a very long time and had to pay nearly $1.8 billion in damages and to fix the mess they created. They operated in many states in the US for a very long time. Their methods caused environmental damage that needs to be reconciled. There had been fear for many years that taxpayers would have to foot the bill for cleaning up the mess of the now bankrupt company. But as their bankruptcy was organized, and as copper prices went up, Grupo Mexico was able to cover all the expenses, plus interest.
This is a victory for all citizens of the United States. We don't have to pay to clean up a company's mess, which is a change from the past. This ruling and agreement shows that environmental legislation is working and that companies are having to follow the law. Even though it is a long and tedious process, it is intentionally tedious so that we get it right. I hope this is a step in the direction of holding companies more and more accountable for the pollutants that they release into the air. These pollutants effect everyone and thus should be regulated by the EPA. This ruling also comes along with the legal decision Monday by the Supreme Court that said that Carbon Dioxide is potent enough, and poses such a danger to human health, that the EPA can regulate it. The federal government needs more power to control industries that have drastic environmental impacts if we are going to have any chance of defeating climate change. This is just the federal government flexing their muscles. And that is good for everyone.
Blumenthal, Les. "Grupo Mexico will pay states $1.8 billion for Asarco cleanup."
Kentucky.com. 12/10/2009. Fri. 12 Dec 2009.
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I am delighted to hear that grupo mexico is going to pay to clean up the mess that they made, but they still shouldn't have made it in the first place. In my opinion, there should be very harsh penalties for companies that cause damage to the environment. Industries already cause enough harm to the environment so they should be super careful not to cause any more than necessary.
ReplyDeleteYes, them cleaning up the mess is great. Just the fact that they acknowledge that they were wrong! Factories cause enough harm , in adittion to them cleaning up there mess , i think they should take baby steps to going green.
ReplyDeleteThis will be very important in the future for holding other companies accountable for their environmental misdoings. Keeping the large corporations honest will be a huge step in the right direction for us.
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