cialis online

Coffeyville Refinery Owner Goldman Sachs Feeling Heat as Kansas Oil Spill Rescuers Begin Showing Signs of Illness

AddThis Social Bookmark Button

First responders to the Coffeyville, Kansas Oil Spill have begun to show signs of illness, prompting state officials to once again order residents of the oil-soaked town to leave the area. This is ominous news for investment giant Goldman Sachs, which plans to sell stock in Coffeyville Resources, the refinery responsible for last week’s massive spill. Goldman Sachs owns CVR Energy, Inc, the unit that manages the Coffeyville refinery. Already, a lawsuit has been filed against Coffeyville Resources, and many more are expected to follow.

This past weekend, Kansas officials halted the return of hundreds of Coffeyville residents who had been allowed to come back to assess the damage done to their homes in the wake of the flood and oil spill. Health officials had begun to see cases of skin rashes and diarrhea among rescue workers who have had prolonged exposure to the contaminated flood waters. Possible negative health consequences are always a concern during oil spills. Exposure to contaminated soil or water can affect the nervous system, blood and kidneys. There is evidence that workers in the petroleum industry have a higher chance of developing skin cancers and leukemia. For this reason, Kansas officials cordoned off Coffeyville until a more thorough assessment of the health dangers could be made.

Ramifications from the contaminated floodwaters could be felt as far away as Wall Street, where Goldman Sachs had planned to offer an initial public offering (IPO) of Coffeyville Resources stock in the coming months. According to a June 5 filing with the Securities and Exchange Commission, the investment banker planned to offer 21-percent of the company to the public in the hopes of raising $375 million. But because the success of an IPO hinges on the future prospects of a company, it is questionable whether that figure is realistic considering the staggering costs associated with the oil spill cleanup. There is also concern that lawsuits stemming from the spill will put further strain on Coffeyville Resources’ bottom line. Already, one lawsuit has been filed against the company, and it is not known how many more will follow. Although the company does have insurance to cover damages and liability up to $1.25 billion, the refinery would have to remain closed for more than 45 days for the policy to take effect. Coffeyville Resources has not yet calculated the costs of cleanup or potential liabilities, nor does it have a timeline for reopening the refinery.

The Kansas oil spill occurred on June 30 when Coffeyville Resources was attempting to shut down the refinery before it was inundated with flood waters. A pump apparently malfunctioned and allowed oil to continue flowing to the refinery’s main storage tank until it overflowed. The problem went unnoticed for some time, and allowed as much as 42,000 gallons of oil to escape. The town of Coffeyville, with a population of 11,000, has so far been hardest hit, although water supplies in several Kansas and Oklahoma communities might have been compromised.

« »

Comments are closed.

NEWS CATEGORIES

GOVERNMENT NOTICES

ARCHIVES


Defective Johnson & Johnson Depuy ASR Hip Implants

The Johnson & Johnson Depuy ASR Hip Implant is suppose to last 15 years, but can fail in only a few years after surgery. Victims with faulty hip implants endure excruciating pain, pain in the groin, death of tissue in the hip joint and loss of surrounding bone. GET ALL THE FACTS NOW! CLICK HERE!
defective-hip-replacement.com

CAT Scans Radiation Exposure

If you had a CT or CAT scan and now have a band of missing hair, skin reddening or any other problems possibly related to a radiation overdose, you may have been exposed to much radiation due to incorrect settings on these machines. CONTACT US TODAY!
CAT-Scans-Radiation-Exposure.com

Water Contamination From Fracking

Hydraulic Fracturing of Fracking a way to extract natural gas from shale is contaminating water supplies across the country. Get the facts to keep your drinking water safe for your family.
WaterContaminationFrom Fracking.com

Overexposure to PCBs

Many people unknowingly have been exposed to high levels of PCBs. Recently 3 schools in NY City were found to have dangerous levels of PCBs throughout. Many workers for Monsanto, General Electric, and Westinghouse were exposed to high levels of PCBs. PCBs are a dangerous toxic substance that doesn't break down easily and can cause chloracne, bleeding and neurological disorders, liver damage, spontaneous abortions, malformed babies, cancer, and death. GET THE FACTS!
Overexposure to PCBs.com

Great Photography

Tallis Photo, the number one photographer for great corporate, wedding, and special occasion photos. CONTACT US TODAY!
TallisPhoto.com

Poligrip Lawsuit

Super Poligrip or Fixodent May Cause Nerve Damage. 800-LAW-INFO
Poligrip-Lawsuit.com

Personal Injury Lawyer Nassau County

If you or someone you love was injured CONTACT US TODAY!
Nassau-Personal-Injury-Lawyer-Online.com

Nursing Home Blog

When a loved one is abused at a nursing home, it is time to take action. STOP nursing home abuse!
nursing-home-blog.com

Car Accident Lawyer Nassau County

If you or someone you love was injured in an auto accident CONTACT US TODAY!
www.nassau-car-accident-lawyer-online.com

Suffolk County Auto Accident Lawyer

If you or someone you love was injured in an auto accident in Suffolk County, NY CONTACT US TODAY!
www.suffolk-car-accident-lawyer-online.com

Don't Be Denied Veterans Benefits

If you or someone you love was denied veterans benefits CONTACT US TODAY!
www.veterans-benefits-denial.com

Oil Rig Spills Lawyer

Oil Rig Spills harm the environment and cause heavy losses to coastal game and fishing industries, as well as a loss of waterway usage, resulting in a loss of income to individuals and businesses, and a loss of beach front usage. Don't let a spill cause you harm, CONTACT US TODAY!
www.oil-rig-spills.com

Whistle Blower

Stand up and say what you think is right. See something, say something.
whistlebloweradvisor.com