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How a Texas Oil Disaster Exposed a Deadly Secret

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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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Опубликовано:

21 авг 2024

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Комментарии : 107

@business Месяц назад

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

@mrm2204 Месяц назад

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

@michaelhutchings6602 Месяц назад

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

@mrm2204 Месяц назад

@@michaelhutchings6602 i do not look up to thieves.

@GotKimchi Месяц назад

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 Месяц назад

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

@the0ne809 Месяц назад

we cannot have regulations. that is communism. 🙄🙄

@techcafe0 Месяц назад

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 RU-vid.

@nzs316 Месяц назад

Thanks for the heads up.

@techcafe0 Месяц назад

@@nzs316 you're welcome :)

@joshs3916 Месяц назад

I’ll check it out. Thanks for sharing

@SirAdamMeek Месяц назад

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

@Sjalabais Месяц назад

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 16 дней 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 Месяц назад

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

@tachy1801 Месяц назад

The USCSB should get more funding

@kevint1160 Месяц назад

@@tachy1801 you are my new favorite person

@Demopans5990 26 дней назад

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

@medea27 18 дней 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 Месяц назад

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

@moereese5254 Месяц назад

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

@Demopans5990 26 дней назад

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

@QueenetBowie Месяц назад

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.

@peterponcedeleon3368 Месяц назад

Nobody blinks an eye when oil conpanies go bust.

@bernob9770 Месяц назад

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

@deadmo1 29 дней назад

Sounds like their consulting firm is McKinsey.

@kurtphilly Месяц назад

The Goal is always profits first!

@joshhoffman1975 Месяц назад

Great video, thanks!

@12BITSOUL 16 дней 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.

@walterwhite8333 Месяц назад

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

@stockmarketyolo Месяц назад

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 Месяц назад

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 21 день 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

@LazyStory Месяц назад

NBA-players gets bigger fines !

@jackasdasd5143 Месяц назад

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.

@markb1764 21 день назад

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

@GeorgeDonnelly Месяц назад

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.

@BryceLovesTech Месяц назад

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.

@Demopans5990 26 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

@djohanson99 29 дней назад

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

@Demopans5990 26 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

@seankw2880 Месяц назад

Murica!!!

@MithunOnTheNet Месяц назад

🦅🦅🔫💰💸🦅✝

@dfdf-rj8jr Месяц назад

Get over yourself

@sonuchoudhary1797 Месяц назад

Great, sonu, India

@sbar39 29 дней назад

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

@reginafefifofina Месяц назад

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

@tmgclips5300 Месяц назад

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

@danielcadnum7214 Месяц назад

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

@BigMike10960 Месяц назад

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

@lonewitness Месяц назад

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

@BigMike10960 Месяц назад

@@lonewitness one refinery is insignificant to an international market

@lonewitness Месяц 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 21 день 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

@BigMike10960 Месяц назад

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

@kurtphilly Месяц назад

That’s not oil and completely unrelated.

@blackfoxstudioX Месяц назад

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

@BigMike10960 Месяц назад

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

@kevinhman6164 29 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 29 дней назад

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

@masterstacks2030 Месяц назад

The high price of big government debasement

@wskroll 22 дня 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.

@dark12ain 21 день 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

@johnbill739 Месяц назад

Sick US coperate culture

@reginafefifofina Месяц назад

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

@ponnusamytp3847 22 дня назад

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

@bryanotieno7106 Месяц назад

Corrupt leaders

@genocidegrand2057 Месяц назад

but exploding pipeline is ok?

@lokesh303101 Месяц 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.

@user-221i Месяц назад

Remember project 2025. Prepare for worse

@captainandthelady Месяц 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 Месяц назад

You mean profit

@CarlosPedroOliveiraTavares Месяц назад

Slava Ukraini

@realdeal139 Месяц назад

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

@user-uc5um3io2j Месяц назад

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

@timmyhuynh5846 18 дней 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.

@revolutionarydefeatism Месяц назад

Capitalism!

@sdbcadmin Месяц назад

Boring

@finnandy1 Месяц 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.

@yochutes Месяц назад

First

@xDUnPr3diCtabl3 Месяц назад

Grow up.

@bluettr250 Месяц назад

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

@_R.F_ Месяц назад

what are u waffling on about mate

@mrm2204 Месяц назад

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

@beyondfossil Месяц назад

Magat

@bluettr250 Месяц назад

@@_R.F_ you must need your fix too

@bluettr250 Месяц назад

@@mrm2204 preaching from your basement?

@michaelhutchings6602 Месяц 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!