HOVENSA: Economic Boost and Environmental Disaster Essay -- Environmen

By far the largest private employer in the unadulterated Islands, HOVENSA has decided to cease operations, despite the ongoing economic crisis plaguing the territory which urgently relies on the refinerys vital tax revenues. Nevertheless, the fraternity cites its present financial woes as the primary reason behind such a forward decision. In so far as, fluctuating crude oil prices brought on by various world events, in concert with other minor flesh out including the manner in which the plant is run and the amount of expenditures incurred, have caused the oil giant to generate about $1.3 billion dollars in losses. What seems odd be the events is the surrounding environmental issues which have plagued the plant during 2010 and 2011, which caused the Environmental Protection histrionics to sanction the company with a $700 million dollar mandate. Such intelligent action taken was the result of a series of mis-steps with the refinerys applied science/environmental protection pr actices, resulting in one of the worst environmental disasters to mutilate the territory. HOVENSA came about as a new joint venture in the region between parent company, Hess Oil, and state owned oil company, Venezuela theme Oil Company. Beginning in 1966 however, we notice that the precursor to HOVENSA, Hess Oil thoroughgoing(a) Islands Corporation, was seen as more of an economic miracle rather than a disaster in the making. Years subsequent to 1966 witnessed a continued expansion of the oil refinery vegetable oil producing capacity, 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. Works Cited1)Blackburn, Joy. 2011. EPA launches HOVENSA air note study. Virgin Islands Daily News, The (St. Thomas), February 16. 2)Nations Second Largest Refinery to Pay More Than $5.3 Million penalisation for Clean Air Act Violations. Allvoices. Web. 02 Mar. 2012. .3)Government De Jongh Seeks Federal 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. .