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This article examines persistent social impacts of the 1989 Exxon Valdez oil spill (EVOS) by focusing on the relationship between social capital and chronic individual stress and collective trauma, using Hobfoll's (1988) conservation of resources model of stress as an organizing framework. Data are based on in‐depth personal interviews conducted 14 years after the disaster. Analyses focus on the ways in which stress‐related behaviors associated with loss and threat of loss of various forms of resources have affected social capital in the renewable resource community of Cordova, Alaska. Findings reveal lower levels of trust, disruptions in associations, weakened social connections and networks, altered social discourses, diminished feelings of good will, and violations of norms of reciprocity. Behaviors associated with long‐term stress related to the EVOS and to the associated protracted litigation are indicative of diminished social capital. This research highlights the critical importance of social capital as a collective resource and illustrates the ways in which decreased social capital can exacerbate individual stress and collective trauma.

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