December 20, 2010
Shareowner Resolution Addresses Risk Management at BP
by Robert Kropp
Long-time shareowner Christian Brothers Investment Services leads investor effort to engage with BP
on better disclosure of risk assessment and mitigation.
As disastrous as the Deepwater Horizon platform explosion in the Gulf of Mexico was, it is only the
most recent of a long history of health and safety violations at BP. Other well-publicized examples
of such violations by the company include the 2005 explosion at its Texas City Refinery in Texas,
which killed 15 workers and injured more than 170. In 2006, 200,000 gallons of oil spilled in Great
Prudhoe Bay in Alaska, despite concerns
voiced as early as 2001 that maintenance of BP's Alaskan pipelines were insufficient.