Friday, July 09, 2010

BP cost cutting pattern - Refinery blowout killed 15


These are not random disasters. There's a reason why they happen. There's a cause. They're man made.

BP's oil refinery blowout and fire in Texas killed 15 in March 2005 due to deep cost cutting measures. Old equipment was not replaced as recommended by internal auditors.

These executives and rich shareholders will keep going until the end with their profit maximization schemes. They can't help it. They're greedy psychopaths. They need to be stopped by sane adults, but aren't. Only when something really catastrophic occurs, that which effects millions of people, does public sentiment change. Only then are these plots, hatched by greedy executives and shareholders, finally curtailed.

Here's a report on PBS's NewsHour program on the incident and a followup report by the government citing negligence on BP's part.

[Video] BP - A history of cost cutting

[Video] Alternate link

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