How a Texas Oil Disaster Exposed a Deadly Secret

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  • Опубликовано: 9 июл 2024
  • The deadly explosion that rocked Marathon Petroleum’s Galveston Bay, Texas, refinery in 2023 put a klieg light on Big Oil’s deferral of critical maintenance in the drive to maximize production and capture record profits. It also made clear the limited ability of the federal government to do anything about it.
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Комментарии • 111

  • @business
    @business  27 дней назад +5

    Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: www.bloomberg.com/subscriptions?in_source=RUclipsOriginals

  • @mrm2204
    @mrm2204 27 дней назад +168

    Until CEOs are held responsible legally they’ll keep doing what they want

    • @michaelhutchings6602
      @michaelhutchings6602 27 дней назад +7

      Oil ceos are heroes who literally make every aspect of your life better.

    • @mrm2204
      @mrm2204 27 дней назад

      @@michaelhutchings6602 i do not look up to thieves.

    • @damianfitzpatrick3465
      @damianfitzpatrick3465 27 дней назад +4

      I mean these guys specifically are pretty dumb tho, deferring maintenance for short term profits is teenager type management

    • @GotKimchi
      @GotKimchi 27 дней назад +5

      The penalties are just the cost of business. Fines are so small, who cares about the fine. Profits are much greater than the fine

    • @swaggery
      @swaggery 27 дней назад +2

      Not just the CEO, everybody in the chain of command from the lowest worker that first was aware of the issue.

  • @SirAdamMeek
    @SirAdamMeek 27 дней назад +20

    RIP EPA/OSHA It'll be interesting to see what corporations will get away with after the Supreme Court gutted regulators ability to do their jobs

  • @moereese5254
    @moereese5254 27 дней назад +38

    This is what happens when old people run the world- they destroy it.

    • @Demopans5990
      @Demopans5990 11 дней назад

      A society is gold if trees are planted by people they'll never see the shade of

  • @techcafe0
    @techcafe0 27 дней назад +53

    I recently watched a 3-part PBS Frontline documentary called: "The Power of Big Oil" It's an eye-opener, and can be watched on RUclips.

    • @nzs316
      @nzs316 27 дней назад +2

      Thanks for the heads up.

    • @techcafe0
      @techcafe0 27 дней назад

      @@nzs316 you're welcome :)

    • @joshs3916
      @joshs3916 27 дней назад +1

      I’ll check it out. Thanks for sharing

  • @Sjalabais
    @Sjalabais 22 дня назад +13

    All of this is so blatantly out in the open, in a society where we care for each other, that would never be accepted. See Norway's policies after their oil industry had an uptick in injuries and casualties. In the US...well, the price tag for a human life is all that matters. And let's dispute these miniscule fines, too.

    • @jamesgoines7663
      @jamesgoines7663 23 часа назад

      It's apparent why most of the fortune 500 oil companies are headquartered in Texas. They are penalized for unsafe activities in Texas.

  • @kevint1160
    @kevint1160 18 дней назад +9

    The real crime here is that the USCSB is not making a video about this.

    • @tachy1801
      @tachy1801 16 дней назад +2

      The USCSB should get more funding

    • @kevint1160
      @kevint1160 16 дней назад

      @@tachy1801 you are my new favorite person

    • @Demopans5990
      @Demopans5990 11 дней назад

      There's only so many times you can repeat the same story before it gets old

    • @medea27
      @medea27 2 дня назад

      Oh I'm sure they will... I think they wait until the investigation is complete, so they can deliver 'lessons learnt' along with actionable improvement activities that the industry can undertake. I just love that a random govt department - dedicated to worker safety in some really niche industries - has managed to organically garner a big online following, purely based on the quality of their videos. Technical videos about industrial accidents & worker safety. Absolutely brilliant. 🤘😎

  • @winstong7867
    @winstong7867 27 дней назад +36

    Imagine getting benefits of supposedly going green but you’re still majority an oil company
    Too big to regulate like big TOBACCO

  • @peterponcedeleon3368
    @peterponcedeleon3368 27 дней назад +7

    Nobody blinks an eye when oil conpanies go bust.

  • @QueenetBowie
    @QueenetBowie 27 дней назад +16

    This isn’t limited to oil, cobalt and other metals mining used for renewables like solar panels and electric vehicles have some hellish conditions…. We don’t usually care bc they’re in third world countries, but the take home message should be to improve all industrial safety regardless of industry or location.

  • @deadmo1
    @deadmo1 14 дней назад +3

    Sounds like their consulting firm is McKinsey.

  • @bernob9770
    @bernob9770 27 дней назад +16

    You need Gov. to oversee this issue otherwise profit will overrun safety every time!

  • @kurtphilly
    @kurtphilly 27 дней назад +7

    The Goal is always profits first!

  • @joshhoffman1975
    @joshhoffman1975 27 дней назад +5

    Great video, thanks!

    • @davidanalyst671
      @davidanalyst671 22 дня назад

      this is nothing other than a bunch of anti oil industry propaganda from bloomberg. "The Dirty Dirty oil company puts profits over people's lives" OH NO!!!! Every chemical company has to make decisions of profitability and safety.

  • @12BITSOUL
    @12BITSOUL День назад

    When I worked at the plants all around Southern Louisiana I was told companies will pay lawyers Millions to prevent you from getting $10,000.

  • @LazyStory
    @LazyStory 25 дней назад +5

    NBA-players gets bigger fines !

    • @jackasdasd5143
      @jackasdasd5143 17 дней назад +1

      Yea you get a bigger fine for dropping an f bomb in the nba. You still make a lot in the nba but less than the oil companies.

  • @walterwhite8333
    @walterwhite8333 27 дней назад +6

    Just handful of oil companies are responble for 90%of plastic ever produced

  • @sonuchoudhary1797
    @sonuchoudhary1797 24 дня назад +1

    Great, sonu, India

  • @GeorgeDonnelly
    @GeorgeDonnelly 27 дней назад +1

    People need to be able to sue much more easily and speedily. Clearly OSHA is ineffective. We also need stronger unions. Thanks for this excellent coverage.

  • @reginafefifofina
    @reginafefifofina 27 дней назад

    1:05 shout out to the surrounding cities in port of Los Angeles

  • @markb1764
    @markb1764 6 дней назад

    Companies like contractors because they can better wash their hands of responsibility

  • @sbar39
    @sbar39 14 дней назад

    5:08 tragically in this country it's a sad truth

  • @stockmarketyolo
    @stockmarketyolo 27 дней назад +26

    Only thing I worry about is trumps war on the epa and the environment. Government needs to protect the environment because individual people won’t.

    • @Ye-tf9im
      @Ye-tf9im 27 дней назад +2

      lol what you on about silly goose when he was president people were saying the water was gonna be so dirty undrinkable. Don’t let these people make you fearful then you give up your rights for safety.

    • @dark12ain
      @dark12ain 5 дней назад

      Yeah if you lived in a place with already dirty water like I do then nothing really changed it all stayed the same like it does under any president​@@Ye-tf9im

  • @seankw2880
    @seankw2880 27 дней назад +4

    Murica!!!

  • @tmgclips5300
    @tmgclips5300 27 дней назад

    But have you ever seen a green company using 1 billion dollars worth of heavy machinery ?

  • @BryceLovesTech
    @BryceLovesTech 25 дней назад +5

    One more reason, I drive electric. I’ll never go back to gasoline. My Tesla takes out the middle man because I charge you at home with my solar.

    • @davidanalyst671
      @davidanalyst671 22 дня назад +2

      your tesla has plastic in it. you still have products from the houston refinery. You can't live one day without oil or its products.

    • @Demopans5990
      @Demopans5990 11 дней назад

      ​@@davidanalyst671
      It's possible to get the necessary polymers from other sources. Crude oil just happens to be the cheapest source of hydrocarbon feedstock

  • @kevinhman6164
    @kevinhman6164 13 дней назад

    Penalties should be up to 2% of a companies yearly revenue for serious violations and a percentage smaller than that for lesser violations

    • @kevinhman6164
      @kevinhman6164 13 дней назад

      So if a plant makes 100 million in revenue in a year, the fine would be 2 million for serious violations

  • @danielcadnum7214
    @danielcadnum7214 14 дней назад

    That’s such BS. When you have down time you utilize that time for repairs and upgrades. Bad management decisions. 😖

  • @BigMike10960
    @BigMike10960 27 дней назад +10

    They make it sound like delaying maintenance, increases profits. It doesn’t, plant shut downs reduce profits.😂

    • @lonewitness
      @lonewitness 24 дня назад

      Would it not benifit them to stall production by delaying maintenance to create scarcity for an increase of profit no?

    • @BigMike10960
      @BigMike10960 24 дня назад

      @@lonewitness one refinery is insignificant to an international market

    • @lonewitness
      @lonewitness 24 дня назад

      @@BigMike10960 Oh is that why Opec Plus (the worlds major oil producers) agreed to cut oil production by 700,000 barrels a day just last November? just cutting 1% of the worlds oil supply can raise prices my guy.

    • @dark12ain
      @dark12ain 5 дней назад

      No it's like a car engine you can go without maintenance for a whole it just mean certain parts may run less efficiently. You still get to keep driving driving the car you just letting the maintenance laps untill something happens and who knows how long that will take. Same with these oil refineries. Same basic concept. Unless it's something that's gonna cause problems right now we ain't fixing it till we got it

  • @masterstacks2030
    @masterstacks2030 27 дней назад

    The high price of big government debasement

  • @reginafefifofina
    @reginafefifofina 27 дней назад

    7:19 that’s because of project 2025. Layoffs.

  • @timmyhuynh5846
    @timmyhuynh5846 3 дня назад

    Texas company give employees safe training. Just make employees sign on the forms, but completely not following thru. Any safe happen employees get suffering. They just care of their money with out safe investment on employees.

  • @djohanson99
    @djohanson99 14 дней назад

    USA only has two refineries. Do your best to shut them down. And cry when gasoline is scarce.

    • @Demopans5990
      @Demopans5990 11 дней назад

      The subways don't care about oil prices. The city gets a 43% of it's power from hydro alone.
      Petrol could hit $9/gal like it costs over in Europe and it wouldn't affect my transportation at all

  • @ponnusamytp3847
    @ponnusamytp3847 6 дней назад

    Try to 🏃‍♂️ ur day today life without polluting air and water to protect ur nxt zen

  • @dark12ain
    @dark12ain 5 дней назад

    We cant complain since we use stuff that's created by these companies on a daily. They making profits and we want stuff to yo use in our daily life cant blame one without the other. And neither side will stop what they are doing to make the world better are we?????? Right

  • @genocidegrand2057
    @genocidegrand2057 27 дней назад

    but exploding pipeline is ok?

  • @lokesh303101
    @lokesh303101 27 дней назад

    Get with Human Resources and Quality Improvements.
    Does require Investments to avoid the Price.
    Regulatory Requirement on Pressure Valves and Reactor Depressurizing Mechanisms and Avoid Leaks by Cross-Pipe Mechanisms of Outflows and Segregation Process for Product Collectives.

  • @bryanotieno7106
    @bryanotieno7106 26 дней назад

    Corrupt leaders

  • @user-221i
    @user-221i 27 дней назад +8

    Remember project 2025. Prepare for worse

  • @revolutionarydefeatism
    @revolutionarydefeatism 27 дней назад +1

    Capitalism!

  • @BigMike10960
    @BigMike10960 27 дней назад +5

    Lithium battery plant in South Korea exploded two weeks ago and killed a bunch of people

    • @kurtphilly
      @kurtphilly 27 дней назад +1

      That’s not oil and completely unrelated.

    • @blackfoxstudioX
      @blackfoxstudioX 27 дней назад +3

      Is Lithium also responsible for global warming and countless oil spills over the decades?

    • @BigMike10960
      @BigMike10960 27 дней назад

      @@blackfoxstudioX the climate has been changing for thousands of years. Greenland used to actually be green!

  • @johnbill739
    @johnbill739 16 дней назад

    Sick US coperate culture

  • @captainandthelady
    @captainandthelady 27 дней назад

    All this prophet and we still we give them incentives. Is this right? Prophets are up and safety is down and it's the people that have to pay.

    • @kekuleh1
      @kekuleh1 27 дней назад

      You mean profit

  • @yochutes
    @yochutes 27 дней назад

    First

  • @realdeal139
    @realdeal139 25 дней назад

    This is what happens when you limit/regulate the fossil fuel profits. They are forced to cut corners to make ends meet.

  • @CarlosPedroOliveiraTavares
    @CarlosPedroOliveiraTavares 23 дня назад

    Slava Ukraini

  • @sdbcadmin
    @sdbcadmin 25 дней назад

    Boring

  • @wskroll
    @wskroll 6 дней назад

    I had to stop watching this video when the first blatant lie made itself known. The presenter's historical price per barrel of oil had me stop in my tracks. The presenter gaslights you with a false history, without regard to reality. Apparently, it's a narrative rather than a news report.
    Here are some historical prices per barrel of oil:
    2008
    The price of oil reached an all-time high of $147.27 in July 2008. However, prices fell below $100 in late summer before rising again in September.
    1980
    The price of oil peaked at over $35 per barrel in 1980, which is equivalent to $129 per barrel in 2023 dollars when adjusted for inflation.
    1986
    In 1986, Saudi Arabia increased its oil production from 2 million barrels per day to 5 million barrels per day, which caused prices to drop to almost $10 per barrel.

  • @finnandy1
    @finnandy1 25 дней назад

    There is always a safety violation. There are too many small ridiculous rules to follow. Most of those rules are made by someone at a desk that doesnt have a clue about the job they are making rules for.

  • @user-uc5um3io2j
    @user-uc5um3io2j 18 дней назад

    Safety is paramount in any industry but this program seems like anti-oil propaganda

  • @bluettr250
    @bluettr250 27 дней назад +6

    Just came for my leftist dose of communist drivel for the day

    • @_R.F_
      @_R.F_ 27 дней назад +14

      what are u waffling on about mate

    • @mrm2204
      @mrm2204 27 дней назад +14

      @@_R.F_he hasnt taken his meds yet, dont worry

    • @beyondfossil
      @beyondfossil 27 дней назад +3

      Magat

    • @bluettr250
      @bluettr250 27 дней назад

      @@_R.F_ you must need your fix too

    • @bluettr250
      @bluettr250 27 дней назад +1

      @@mrm2204 preaching from your basement?

  • @michaelhutchings6602
    @michaelhutchings6602 27 дней назад

    Help! My quality of life is better than any of my ancestors ever dreamed was possible! Big oil made my life worse by making everything better! Save me government!