HOVENSA: Economic Boost and Environmental Disaster Essay -- Environmen

By far the largest cloistered employer in the Virgin Islands, HOVENSA has decided to cease military operations, despite the ongoing stinting crisis plaguing the territory which desperately relies on the refinerys vital tax revenues. Nevertheless, the go with cites its present fiscal woes as the primary reason behind much(prenominal) a brash decision. In so far as, fluctuating cover prices brought on by various world events, in concert with other minor details including the manner in which the plant is run and the sum total of expenditures incurred, have caused the oil giant to generate about $1.3 billion one dollar bills in losses. What seems odd are the events is the surrounding environmental issues which have plagued the plant during 2010 and 2011, which caused the environmental Protection Agency to sanction the company with a $700 million dollar mandate. Such legal action taken was the result of a serial publication of mis-steps with the refinerys engineering/environmental protection practices, resulting in one of the pip environmental disasters to hit the territory. HOVENSA came about as a new pronounce venture in the region between parent company, Hess Oil, and state have oil company, Venezuela National Oil Company. Beginning in 1966 however, we notice that the trumpeter to HOVENSA, Hess Oil Virgin Islands Corporation, was seen as more of an economic miracle rather than a disaster in the making. Years subsequent to 1966 witnessed a continued expanding upon of the oil refinery petroleum producing faculty, essentially elevating it from what was known as humble operation to what would be considered to be a monolithic organization. Whether that included the refineries increased capacity from 45,000 barrels a day to well over 500,000 barrels a day, or the companys innovative te... ...vironment is once again held paramount. kit and boodle Cited1)Blackburn, Joy. 2011. EPA launches HOVENSA air quality study. Virgin Islands Daily News, The (St. Tho mas), February 16.2)Nations Second Largest Refinery to Pay more than Than $5.3 Million Penalty for Clean Air Act Violations. Allvoices. Web. 02 Mar. 2012. .3)Government De Jongh Seeks national Assistance in Aftermath of HOVENSAClosure. Governor John P. DeJongh. Web. 02 Mar. 2012. .4)HOVENSASt. Croix, U.S. Virgin Islands. EPA. environmental Protection Agency. Web. 02 Mar. 2012. .