🖤 Donations of all sizes power our public service journalism Give Now

BP denies putting profit over safety

Stephen Beard Jan 17, 2007
HTML EMBED:
COPY

BP denies putting profit over safety

Stephen Beard Jan 17, 2007
HTML EMBED:
COPY

TEXT OF STORY

LISA NAPOLI: The British oil giant BP has denied that it put profit above safety. The company was reacting to a damning report on the safety record at its U.S. refineries. Marketplace’s Stephen Beard has more.


STEPHEN BEARD: The report by former Secretary of State James Baker was unremitting in its criticism of BP. It spoke of “material deficiencies” on the issue of safety.

Last night the head of the company, Lord Browne, hit back. He denied that cost-cutting had caused the problems. He said he had never rejected a request for money to be spent on safety measures. Nevertheless he accepted the broad thrust of the Baker Report.

And, says analyst Stewart Frazer, there is little doubt that BP is already mending its ways.

STEWART FRAZER: The company is really making strong efforts now. It’s reached agreement with the unions on safety issues. It’s going to be listening more to people, particularly those at the sharp end of the business.

However, BP’s American problems are far from over. Managers and executives could still face criminal charges over the Texas City refinery disaster.

In London, this is Stephen Beard for Marketplace.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.