Transocean's Long History Of Testing, Violating Offshore Drilling Regulations

New York Times:

Transocean is the world's largest offshore drilling company, but until its Deepwater Horizon rig exploded in the Gulf of Mexico in April, few Americans outside the energy business had heard of it. It is well known, however, in a number of other countries -- for testing local laws and regulations.

Read the whole story: New York Times

Comments

[Longtimeliberal]

07:15 PM on 07/10/2010

These guys have been violating laws and paying what they consider minor fines for yrs and have gotten away with it til now. If there are no consequences the greedy will keep doing what they have done it the past. This took them totally by suprise.

[mediamarv]

01:41 AM on 07/09/2010

It's a Republican organization (despite its headquarters location) so everything it does is fine.
Ask Jindahl. Ask Vitter. Ask Cheney.

[hollybork]

07:56 AM on 07/08/2010

I wonder how you regulate a multi national corporation with its headquarters in Switzerland and its rigs poised off shore, partnering with the richest corporations in the world? Did other countries, faced with this imposing if not impossible task, not make make the correct decision: to nationalize the development and production of their oil resources?

[Longtimeliberal]

07:16 PM on 07/10/2010

Transocean in under investigation by several countries including the USA. Also, they have been found to have been doing business with Iran!!!!!!!!!!

[Longtimeliberal]

07:38 AM on 07/08/2010

These things have been going on and everyone turns a blind eye because they are afraid to take on the industry. There have been many spills but they have been able to hide them as they were at sea and people did not see them. No wonder there are dead spots in the ocean. We are going to self destruct if we don't get a grip and look at reality..

[whyus]

01:32 AM on 07/08/2010

You take a look at that picture and you think my God is that our future? Why do I have this awful feeling that this monster happening in the Gulf is not our first priority.

[right Alice]

02:03 AM on 07/08/2010

I think the less you hear about something,
the worse the implications. I'm sure it is a monster.
However, as always, the media is owned and controlled,
so we are told only what they think it's OK for us to know.

[breakingpoint]

01:12 AM on 07/08/2010

Gott im Himmel! You just can't trust the Swiss.

[breakingpoint]

01:28 AM on 07/08/2010

I take it back

Transoceanic was a US Company
They moved to the Caymans in 1999
Then 2008 moved to Switzerland

If I were the Swiss I'd boot them out of the country - 16% tax on 4.4 Billion is not worth all the bad press. People think the Swiss own the company.

[Parvaneh Ferhad]

04:36 AM on 07/08/2010

Legally it is now a Swiss company, since it is incorporated in Switzerland under Swiss law and you got the point exactly right. In addition to the taxes that Swiss authorities can rake in without doing anything, there is a legal and reputational risk by allowing companies to incorporate themselves in Switzerland, even if they have no relation to or business in Switzerland.
On the other hand, this is Capitalism, moral and ethical considerations don't have a place in that socio-economic system.

[MAX1]

01:09 AM on 07/08/2010

.

So much is wrong in the Gulf...
... So little accountability.

.

[olivia]

12:51 AM on 07/08/2010

Transocean made a $250 MILLION profit off the rig explosion by insuring it for twice its value.

I cannot believe it's barely been mentioned anywhere.

[Xibalba]

12:38 AM on 07/08/2010

"It is well known, however, in a number of other countries -- for testing local laws and regulations." ---- shocking.

[sheoples]

12:20 AM on 07/08/2010

where's mr. 'audacity of hope'?

this is another lost opportunity for obama.

in the face of the worst ecological disaster in recorded human history he should be outlining and commiting to a bold 10 year actionable plan to kick addiction to oil.

instead what he's doing is thinking small and ONLY LENDING out $2 billion for solar while another $30 billion goes down the blackhole that is afghanistan.

how about bringing those troops home asap and diverting that $30 billion into green energy jobs?????

[MAX1]

01:11 AM on 07/08/2010

JOBS? JOBS? What jobs?
Americans don't need no stinkin' jobs...
... So says Congress!

[RudyHaugeneder]

12:18 AM on 07/08/2010

Hmmmm. They are the industry standard -- 27,000 abandoned and capped (sort of) oil wells in the Gulf of Mexico alone, with thousands already leaking or on the verge of gushing on their own. Hmmmm.

[RudyHaugeneder]

12:21 AM on 07/08/2010

Of course, I meant all oil companies, not just one.

[sheoples]

12:09 AM on 07/08/2010

http://seattletimes.nwsource.com/html/nationworld/2002791274_sweden08.html

http://environment.about.com/od/renewableenergy/a/oilfreesweden.htm

8 presidents later and all americans can do is talk about it.

talk is cheap.

why can't we be more like sweden and end oil addiction in 10 years?????

[MAX1]

01:12 AM on 07/08/2010

Talk get's you votes...
... Action gets you ire.

[ThermoChemist]

11:53 PM on 07/07/2010

Similarly (?):

-- For BP, a History of Spills and Safety Lapses
http://www.nytimes.com/2010/05/09/business/09bp.html

"For example, last year the Occupational Safety and Health Administration found more than 700 violations at the Texas City refinery — many concerning faulty valves, which are critical for safety given the high temperatures and pressures. The agency fined BP a record $87.4 million, which was more than four times the previous record fine, also to BP, for the 2005 explosion.

Another refinery, in Toledo, Ohio, was fined $3 million two months ago for “willful” safety violations, including the use of valves similar to those that contributed to the Texas City blast.

“BP has systemic safety and health problems,” said Jordan Barab, the deputy assistant secretary of labor for OSHA. “They need to take their intentions and apply them much more effectively on the ground, where the hazards actually lie.”

BP said it was in full compliance and had contested the OSHA findings at Texas City and Toledo. Since the 2005 blast in Texas, BP has invested $1 billion to improve the refinery, it said.

Problems also remain in Alaska. In January, leaders of the House Energy and Commerce Committee sent BP a letter highlighting “serious safety and production incidents” over the last two years in Prudhoe Bay, the nation’s largest oil field. "

+++

-- BP's Long History Of Destroying The World
http://www.huffingtonpost.com/2010/06/08/bps-long-history-of-destr_n_604511.html

[Shawna Spaulding]

11:52 PM on 07/07/2010

WHY ARE ANY OF THESE COMPANY'S STILL DOING BUSINESS? WHY ARE WE THE ONLY COUNTRY WHO DOESN'T HAVE AN ALTERNATVE ENERGY POLICY? IF THINGS DON'T GET BETTER , I NOT VOTING FOR NONE OF THESE { JACK HOES }!!!!

[StopThePlanet]

11:48 PM on 07/07/2010

BP, Transocean and our govt. are all to blame. I doubt we will ever see any prosecutions other than some patsy.