"BP field managers were being asked to choose between saving money and ccritical maintenance." -- Rep Bart Stupak, (D-MI), Chairman, Energy and Commerce Investigations Subcommittee
Internal documents from BP show the company ignored corrosion problems on the Alaska pipeline. The company slashed $800,000 in spending on anti-corrosion chemicals and reduced the number of inspections.
Over the same time, BP raked in $106 billion in profits.
The cutbacks resulted in leaks -- idling the pipeline for months, cutting off millions of barrels of oil and driving up oil and gasoline prices. And those higher prices resulted in more profits for BP -- effectively rewarding them for allowing the pipeline to breakdown. (Wyoming Tribune-Eagle)