Wednesday, March 26, 2014

CNN interviews Hazelwood from Exxon-Valdez in documentary "Oil and Water"

Tuesday night, CNN offered a special one hour documentary “Oil and Water” about the 1989 Exxon Valdez accident, where an oil tanker captained by Joseph Hazelwood ran aground off the Alaska coast, spilling tons of goo oil on the beach areas. 
The documentary interviewed Hazelwood, now in his 60s.  He had enjoyed a superlative career up to that point and denies drinking that night. He had left the bridge of the ship for a few moments for a while before it ran aground, which he regrets.
Hazelwood was prosecuted on felony counts but acquitted.  He was convicted on one misdemeanor count.  He was fired by telegram. 
I had significant Exxon in my portfolio at the time (and did until 2013).  It did not affect me a lot, but of course owners of securities, capable of making large gains, share some of the moral responsibility.
CNN has a link on the documentary here

An NBC  station (in Anchorage?) has an account of the Hazelwood interview here

Wikipedia attribution link for Valdez pipeline picture, here. I was in the area once, in August 1980.  

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