Word: petroleum
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Dates: during 1990-1999
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...just the latest incident in a string of fires, tanker spills and explosions that have rocked the Gulf Coast petrochemical strip from Texas to Louisiana. Last October, 23 employees died and 130 were injured when explosions sent 100-ft. walls of flame through a Phillips Petroleum plastics plant in nearby Pasadena. At the same plant on June 8, eight workers were hospitalized after a fire in a resin-producing unit. That same day explosions severely damaged the 886-ft. oil tanker Mega Borg, spewing a 30-mile-long slick off the Texas coast. Early last week traffic was halted...
...currently running | at full capacity, are pushing their employees too hard. After last October's disaster, the federal Occupational Safety and Health Administration cited Phillips for 566 "willful" violations of safety procedures. In April the agency criticized the petrochemical industry in general for unsafe work practices. Even the American Petroleum Institute, a trade group, has issued new standards for refineries and is urging the Federal Government to use them as the basis for safety regulations...
OPEC members are raking in higher profits by taking over the petroleum industry from the wellhead to the gas tank. -- A devastating petrochemical- plant blast raises questions on safety...
...since the oil glut of 1986 have petroleum prices gone on such a wild ride. During trading last week, the futures price of crude fell below $16.50 per bbl. for the benchmark West Texas Intermediate, down more than $2 from the previous week and $5 since early March. While demand for oil usually softens during springtime, new calculations of the world's oil production have stunned commodity traders. Total output by the Organization of Petroleum Exporting Countries exceeds 24.5 million bbl. per day, or 2 million beyond its agreed ceiling. At the same time, Saudi Arabia said it had discovered...
...rate, but the official index fails to provide an accurate measure of many worrisome signs. Residential land prices in the booming city of Osaka rose 56% last year. So far in 1990, hotel rates have risen 9%, and the price of a bottle of Kirin beer is up 6.7%. Petroleum prices also rose last year, no small matter for a country that imports nearly...