The Process Safety Standard Was Written in Response to Certain

question 24

Short Answer

The Process Safety standard was written in response to certain key disasters in the decade of the 1980’s. One of the worst of these disasters was an explosion in a refinery near Houston, killing 25 people, and resulting in millions of dollars in OSHA fines. Name the company that owned this refinery.

---

Definitions:

Inflation Rate

The percentage rate of change in price levels over time, often calculated as the annual rate of increase in the Consumer Price Index (CPI).

Adverse Supply Shock

An unexpected event that suddenly decreases supply, potentially increasing prices and decreasing the quantity available for consumers.

Money Supply

At any specified time, the overall financial assets available in an economy, covering cash, coins, and the balances in checking and savings accounts.

Output

The amount of goods or services produced by a company, industry, or economy within a specific period.