How a Texas Oil Disaster Exposed a Deadly Secret

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.
--------
Like this video? Subscribe: kzread.info?sub_...
Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: www.bloomberg.com/subscriptio...
Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.
Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.
Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.

Пікірлер: 110

  • @business
    @business28 күн бұрын

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

  • @mrm2204
    @mrm220428 күн бұрын

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

  • @michaelhutchings6602

    @michaelhutchings6602

    28 күн бұрын

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

  • @mrm2204

    @mrm2204

    28 күн бұрын

    @@michaelhutchings6602 i do not look up to thieves.

  • @GotKimchi

    @GotKimchi

    28 күн бұрын

    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 күн бұрын

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

  • @the0ne809

    @the0ne809

    24 күн бұрын

    we cannot have regulations. that is communism. 🙄🙄

  • @SirAdamMeek
    @SirAdamMeek28 күн бұрын

    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

  • @techcafe0
    @techcafe028 күн бұрын

    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 KZread.

  • @nzs316

    @nzs316

    28 күн бұрын

    Thanks for the heads up.

  • @techcafe0

    @techcafe0

    28 күн бұрын

    @@nzs316 you're welcome :)

  • @joshs3916

    @joshs3916

    27 күн бұрын

    I’ll check it out. Thanks for sharing

  • @moereese5254
    @moereese525428 күн бұрын

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

  • @Demopans5990

    @Demopans5990

    12 күн бұрын

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

  • @Sjalabais
    @Sjalabais23 күн бұрын

    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

    Күн бұрын

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

  • @kevint1160
    @kevint116018 күн бұрын

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

  • @tachy1801

    @tachy1801

    17 күн бұрын

    The USCSB should get more funding

  • @kevint1160

    @kevint1160

    17 күн бұрын

    @@tachy1801 you are my new favorite person

  • @Demopans5990

    @Demopans5990

    12 күн бұрын

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

  • @medea27

    @medea27

    3 күн бұрын

    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
    @winstong786728 күн бұрын

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

  • @peterponcedeleon3368
    @peterponcedeleon336828 күн бұрын

    Nobody blinks an eye when oil conpanies go bust.

  • @deadmo1
    @deadmo115 күн бұрын

    Sounds like their consulting firm is McKinsey.

  • @QueenetBowie
    @QueenetBowie28 күн бұрын

    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.

  • @bernob9770
    @bernob977028 күн бұрын

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

  • @kurtphilly
    @kurtphilly28 күн бұрын

    The Goal is always profits first!

  • @joshhoffman1975
    @joshhoffman197527 күн бұрын

    Great video, thanks!

  • @davidanalyst671

    @davidanalyst671

    22 күн бұрын

    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.

  • @LazyStory
    @LazyStory26 күн бұрын

    NBA-players gets bigger fines !

  • @jackasdasd5143

    @jackasdasd5143

    18 күн бұрын

    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.

  • @12BITSOUL
    @12BITSOULКүн бұрын

    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
    @walterwhite833328 күн бұрын

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

  • @sonuchoudhary1797
    @sonuchoudhary179725 күн бұрын

    Great, sonu, India

  • @markb1764
    @markb17647 күн бұрын

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

  • @seankw2880
    @seankw288028 күн бұрын

    Murica!!!

  • @MithunOnTheNet

    @MithunOnTheNet

    28 күн бұрын

    🦅🦅🔫💰💸🦅✝

  • @dfdf-rj8jr

    @dfdf-rj8jr

    22 күн бұрын

    Get over yourself

  • @sbar39
    @sbar3915 күн бұрын

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

  • @reginafefifofina
    @reginafefifofina28 күн бұрын

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

  • @stockmarketyolo
    @stockmarketyolo28 күн бұрын

    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

    28 күн бұрын

    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

    6 күн бұрын

    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

  • @danielcadnum7214
    @danielcadnum721415 күн бұрын

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

  • @tmgclips5300
    @tmgclips530028 күн бұрын

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

  • @timmyhuynh5846
    @timmyhuynh58463 күн бұрын

    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.

  • @GeorgeDonnelly
    @GeorgeDonnelly28 күн бұрын

    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.

  • @dark12ain
    @dark12ain6 күн бұрын

    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

  • @BryceLovesTech
    @BryceLovesTech26 күн бұрын

    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 күн бұрын

    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

    12 күн бұрын

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

  • @ponnusamytp3847
    @ponnusamytp38477 күн бұрын

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

  • @kevinhman6164
    @kevinhman616414 күн бұрын

    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

    14 күн бұрын

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

  • @reginafefifofina
    @reginafefifofina28 күн бұрын

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

  • @lokesh303101
    @lokesh30310128 күн бұрын

    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.

  • @masterstacks2030
    @masterstacks203028 күн бұрын

    The high price of big government debasement

  • @BigMike10960
    @BigMike1096028 күн бұрын

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

  • @lonewitness

    @lonewitness

    25 күн бұрын

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

  • @BigMike10960

    @BigMike10960

    25 күн бұрын

    @@lonewitness one refinery is insignificant to an international market

  • @lonewitness

    @lonewitness

    24 күн бұрын

    @@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

    6 күн бұрын

    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

  • @djohanson99
    @djohanson9914 күн бұрын

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

  • @Demopans5990

    @Demopans5990

    12 күн бұрын

    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

  • @bryanotieno7106
    @bryanotieno710627 күн бұрын

    Corrupt leaders

  • @genocidegrand2057
    @genocidegrand205728 күн бұрын

    but exploding pipeline is ok?

  • @user-221i
    @user-221i28 күн бұрын

    Remember project 2025. Prepare for worse

  • @BigMike10960
    @BigMike1096028 күн бұрын

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

  • @kurtphilly

    @kurtphilly

    28 күн бұрын

    That’s not oil and completely unrelated.

  • @blackfoxstudioX

    @blackfoxstudioX

    28 күн бұрын

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

  • @BigMike10960

    @BigMike10960

    28 күн бұрын

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

  • @johnbill739
    @johnbill73916 күн бұрын

    Sick US coperate culture

  • @revolutionarydefeatism
    @revolutionarydefeatism27 күн бұрын

    Capitalism!

  • @captainandthelady
    @captainandthelady28 күн бұрын

    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

    28 күн бұрын

    You mean profit

  • @wskroll
    @wskroll7 күн бұрын

    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.

  • @sdbcadmin
    @sdbcadmin25 күн бұрын

    Boring

  • @realdeal139
    @realdeal13926 күн бұрын

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

  • @CarlosPedroOliveiraTavares
    @CarlosPedroOliveiraTavares24 күн бұрын

    Slava Ukraini

  • @yochutes
    @yochutes28 күн бұрын

    First

  • @xDUnPr3diCtabl3

    @xDUnPr3diCtabl3

    28 күн бұрын

    Grow up.

  • @user-uc5um3io2j
    @user-uc5um3io2j18 күн бұрын

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

  • @finnandy1
    @finnandy126 күн бұрын

    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.

  • @bluettr250
    @bluettr25028 күн бұрын

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

  • @_R.F_

    @_R.F_

    28 күн бұрын

    what are u waffling on about mate

  • @mrm2204

    @mrm2204

    28 күн бұрын

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

  • @beyondfossil

    @beyondfossil

    28 күн бұрын

    Magat

  • @bluettr250

    @bluettr250

    28 күн бұрын

    @@_R.F_ you must need your fix too

  • @bluettr250

    @bluettr250

    28 күн бұрын

    @@mrm2204 preaching from your basement?

  • @michaelhutchings6602
    @michaelhutchings660228 күн бұрын

    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!