I remember a few years ago when we were discussing a new regulatory approach being proposed in Europe that would put more of the burden of ensuring chemical safety on industry. It was touted by...
Publicly owned companies, like many U.S. refineries, have a fiduciary responsibility (which is a legal obligation) to act in the best interest of their shareholders, and that extends to how companies spend their earnings. Often, earnings are spent on a combination of the following: direct dividends, stock buy back programs, paying down debt and capital investment projects.