June 2002

Safety/Loss Prevention

Is regulatory compliance a burden or an opportunity?

Using a proactive approach can reap significant benefits

The hydrocarbon processing industry (HPI) is encumbered with regulatory compliance during a time when it is struggling to be profitable. Management may question the added complications this can bring when meeting customer demands may seem to be burden enough during economically challenging times. Can expensive OSHA fines, high worker compensation costs, personnel loss due to injury or shutdown be avoided? Penalties can be ominous. Recent U.S. statistics include: 3,800,000 on-the-job injuries and 5,100 deaths $30,000 to $40,000 for each disabling injury (includes indirect costs) $910,000 cost for ea

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