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The explosion took place at Williams Olefins chemical plant.

It is important to note that the exploding plant was in the process of being expanded:

2014 is expected to be the first full year of operations at the Geismar facility following the expansion, expected to be completed in late 2013

Maybe the media will begin reporting this expansion as a possible cause of the explosion.

That said below you will find that Koch Industries may have purchased Williams Companies Inc. 9n 2004 which owns 70% of Williams Partners, formed in 2005, which owns the exploding plant.

In 2005, Williams Partners L.P. (NYSE:WPZ) has entered into a contribution agreement to acquire from The Williams Companies, Inc. (NYSE:WMB) 100% of the membership interests in Williams Olefins L.L.C. ("Williams Olefins") for approximately $2.4 billion.

Actually, Williams Partners L.P. was formed in 2005.

The Williams Companies, Inc (NYSE: WMB) owns 68% of Williams Partners L.P.

But, in 2004 Koch Industries acquired The Williams Companies, Inc., according to this Federal Trade Commissions document.

Does Koch Industries own exploding LA Plant? 6:13:2013

So, does Koch Industries own the exploding Louisiana plant?

Also, and rather interesting,

Koch Alaska Pipeline Company, LLC, a subsidiary of Koch Pipeline Company, L.P., has purchased Williams’ entire 3.0845 percent interest in the Trans Alaska Pipeline System;

Actually, Koch owns more.

“With this sale, Williams has completed its exit of the petroleum refining and marketing sector,” said Steve Malcolm, Williams’ chairman, president and chief executive officer. “We appreciate all the employees who managed and operated these businesses for us over the years. Now, we’re handing off the keys to capable companies who will serve Alaskan consumers well.”

     Williams divested its Alaska operations through three separate transactions:

     •         Subsidiaries of Flint Hills Resources, LLC have purchased a 220,000-barrel-per-day refinery at North Pole, two petroleum terminals in Anchorage and Fairbanks, and crude oil and refined products inventories;

     •         Koch Alaska Pipeline Company, LLC, a subsidiary of Koch Pipeline Company, L.P., has purchased Williams’ entire 3.0845 percent interest in the Trans Alaska Pipeline System; and

     •         Holiday Stationstores of Minneapolis has purchased 26 convenience stores.

Koch Industries also owns Flint Hills Resources, LLC

But I digress.

It's all so confusing to follow.  For instance, try following this:

The Williams Companies, Inc. (Williams) is an energy infrastructure company focused on connecting North America’s hydrocarbon resource plays to markets for natural gas, natural gas liquids (NGLs), and olefins.

Its operations span from the deepwater Gulf of Mexico to the Canadian oil sands.

It operates in three segments:

Williams Partners,
Midstream Canada & Olefins and
Other.

On February 17, 2012, Williams Partners acquired 100% of the ownership interests in certain entities from Delphi Midstream Partners, LLC.

On April 30, 2012, it acquired Caiman Eastern Midstream, LLC.

In November 2012, Williams Partners LP acquired Williams Companies, Inc's approximately 83% interest in the Geismar olefins production facility, as well as Williams’ refinery-grade propylene splitter and pipelines in the Gulf region.

In December 2012, the Company acquired Access Midstream Partners GP, L.L.C. and Access Midstream Partners LP.

Oh, back in 2002 the Williams Companies, Inc. obtained and paid off an emergency high interest loan from Warren Buffett to stay out of bankruptcy.

When you think of Williams Partners LLP, think pipelines.  Hundreds, maybe thousands, of miles of shale oil pipelines.

As of October, 2012,  William Companies, Inc currently owns approximately 66 percent of Williams Partners, including the general-partner interest. Following the closing of this transaction Williams will own approximately 70 percent of Williams Partners, including the general-partner interest.

How on earth does the SEC, FTC, and the IRS keep up with all this??

So, Williams Companies, Inc. sold the Williams Geismar olefins production facility to Williams Partners L.L.P, which Williams Companies, Inc. owns a 70% interest in.  Williams sold Williams to Williams.  Got that?

For all that paperwork promised a December, 2013 payout to Williams Companies, Inc.  Today's explosion will most likely disappoint those hoping for an Olephin Christmas bonus.

Williams Partners (NYSE:WPZ) and Williams Companies, Inc. (NYSE:WMB) today announced an agreement for Williams Partners to acquire Williams' approximately 83-percent undivided interest in the Geismar olefins production facility, as well as Williams' refinery-grade propylene splitter for $2.264 billion and pipelines in the Gulf region, for $100 million. Additionally, Williams Partners will be responsible for the completion of the ongoing expansion of the Geismar facility projected to cost $270 million and additional pipelines projected to cost approximately $160 million.

Williams also agreed to temporarily waive approximately $16 million per quarter of general partner incentive distribution rights (IDRs) until the later of Dec. 31, 2013 or 30 days after the Geismar plant expansion is operational. Williams estimates the foregone IDRs will last approximately five quarters, which would total $80 million.

http://www.williamslp.com/...

Again, emphasis mine:

Williams also agreed to temporarily waive approximately $16 million per quarter of general partner incentive distribution rights (IDRs) until the later of Dec. 31, 2013 or 30 days after the Geismar plant expansion is operational. Williams estimates the foregone IDRs will last approximately five quarters, which would total $80 million.

Does Koch Industries own Williams Companies, Inc? and if so, the exploding Louisiana olephin plant?

Anyone......?

Originally posted to War on Error on Thu Jun 13, 2013 at 04:27 PM PDT.

Also republished by In Support of Labor and Unions.

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