How $8.9 Billion Became $250 Million in the Exxon Lawsuit

TIME

New Jersey Gov. Chris Christie’s administration’s assertion that it worked “aggressively” to ensure that Exxon Mobil Corp. reimbursed the state for environmental contamination isn’t changing any minds among the critics of the deal.

For more than a decade the state has been fighting for a court order that would have required Exxon to pay $8.9 billion for environmental repair and other damages related to the company’s oil refining and other activities in northern New Jersey. Instead, the Christie administration has agreed to settle on $225 million to resolve the state’s lawsuit.

Word of the settlement emerged on Feb. 27 as a New Jersey judge apparently was considering how much Exxon should have to pay. The deal generated a chorus of criticism and vows by state legislators to block the deal.

On March 5, the state’s acting attorney general, John Hoffman, and its environmental commissioner, Bob Martin, issued a statement…

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