Showing posts with label ioil spills. Show all posts
Showing posts with label ioil spills. Show all posts

Saturday, 19 June 2010

Gulf of Mexico Oil Spill Disaster

In the last 3 years US Health & Safety regulators have cited a number of companies for "egregious, wilful safety violations: Exxon - 1; Citgo - 2; Sunoco - 8; BP - 760.

BP, called "a recurring environmental criminal" by lawyer Jeanne Pascal, also was criticised in 2001 for neglecting emergency shutdown equipment in Alaska and intimidating employees who raised safety or environmental concerns [there may have been other things, I don't know]. At Prudhoe Bay in 2006  the pipe that BP had allowed to corrode through let out 200,000 gallons of oil.

But never mind - this has an upside. The Sunday Times pointed out that investors can make money through firms that specialise in cleaning up BP-style incidents. I suppose that counts as economic growth.