Energy industry values on display | Arkansas Blog

Energy industry values on display



This just about says it all. Remember it every time some apologist/legislator tells you we can trust the energy industry to be good stewards of the environment without meaningful regulation because they share the same interests as the rest of us. Their first interest is money. Air, water and people finish somewhere down the list.

(CNN) — The owner of the Gulf of Mexico oil rig that exploded last year, killing 11 workers and leading to what has been called the worst oil spill ever, said Monday that calling 2010 its "best year" in safety "may have been insensitive."

Transocean Ltd., in a recent filing with the U.S. Securities and Exchange Commission, said hefty bonuses and raises to top executives were based in part on the company's "performance under safety" last year.

"We acknowledge that some of the wording in our 2010 proxy statement may have been insensitive in light of the incident that claimed the lives of eleven exceptional men last year and we deeply regret any pain that it may have caused," Transocean said in a statement to CNN. "Nothing in the proxy was intended to minimize this tragedy or diminish the impact it has had on those who lost loved ones. Everyone at Transocean continues to mourn the loss of these friends and colleagues."

The statement did not address the controversy over the decision to give out cash awards despite the oil spill disaster.

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