Norfolk Southern could get a $70,000 daily fine for cleanup and toxic wreck payment failure, per EPA
Per CNN
Norfolk Southern could be fined $70,000 daily for cleanup and toxic wreck payment failure after the Ohio train incident, per the EPA. If they didn't present a solution for the whole year, they would be fined $25,550,000 for the whole year, which is only a fraction of their market cap.
As of press time, Norfolk Southern (NSC) has a market cap of $50.93 billion, which meant if it didn't provide a solution and was fined, the amount it would have to pay would only be less than 0.05% of its total market cap. Michael Regan, the EPA Administrator, gave a statement to CNN regarding the demands of the EPA to the train company.
Regan noted that they would do their best to ensure that the company would pay for the mess at hand. Despite testing showing that East Palestine's air and municipal water are safe, those experiencing symptoms were told to "seek medical attention."
Regan: “We’re going to do it through continuous long-term air and water monitoring. We’re going to help the residents of this community recover. And we’re going to invest in the long-term health of this community. And we’re going to make Norfolk Southern a safer railroad.”
The EPA demands that the company will have to clean the debris and contamination and pay the full amount of the damage. Regan noted that should the EPA have to clean the mess themselves, they could fine the company up to $70,000 a day.
Recently, EPA water testing found that Ohio did not actually comply with their standards, although the results showed it was safe to drink. This was because the sample water that was tested came from the same company behind the derailment.
Just a month before the derailment, a $10,000 donation was made to Ohio Gov. Mike DeWine. The governor reportedly received $29,000 in total from Norfolk Southern since 2018.
See flow at unusualwhales.com/flow.
Other News:
- Federal water testing in Ohio did not comply with EPA standards
- Norfolk Southern, NSC, gave a $10,000 donation one month before their train derailed and spewed hazardous materials in eastern Ohio, to the Governor Mike DeWine
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