BP’s Selling Its Troubled Refineries in Texas City and Carson
As a result of the BP oil spill and other accidents at their facilities BP found themselves in a large amount of debt due to safety issues which resulted in fines. "The company still owes $30 million dollars in penalties to the Occupational Safety and Health Administration for new violations discovered in a 2009 investigation of the Texas City plant. If BP were to sell the two refineries, they would cut BP's refining capacity in the US in half and allow the oil giant to invest more in its other refineries around the country. The company said in a press release "that is expects significant market interest in the assets."
A political economy approach people may think that this a good idea because it would help BP's financial situation. By selling their land they would be able to make money which in turn could be used to try and pay off some of their fines. A problem with this is that it may not please many people. It could potentially take away future jobs, and also people maybe frustrated with BP selling before they pay off their fines. An example of a cultural studies approach would be "
In my opinion, no transaction should be consummated until all unpaid fines are resolved, and all deficiencies are corrected. Obligations that are incorporated in “transactions” seem to have a way of slipping through the cracks. Let BP correct the mess they allowed to fester."would This could be an example of the cultural studies approach because they asked someone how they felt about the issue. However, cultural studies would refer to getting multiple peoples thoughts about the situation, not just one.
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