Risk Intelligence Radar: Norfolk Southern Derailment; Arctic Drilling; Sony Antitrust Lawsuit

Highlighting some of the trending risk intelligence themes that Auquan customers are tracking this week.

Norfolk Southern Railway Derailment

A train carrying hazardous materials derailed on February 3 in East Palestine, Ohio, near the Ohio-Pennsylvania border.

• Five railcars contained vinyl chloride, which authorities burned in an effort to prevent water contamination
• East Palestine residents who were evacuated are voicing concerns about the health impacts of contaminated air and water
• The head of the U.S. Environmental Protection Agency Michael Regan, along with elected officials, criticized Norfolk Southern and promised to hold the company accountable.
• Activists and elected officials have raised questions about safety regulations, including an Obama era rule requiring brake modernization, which the Trump administration eliminated.
• Another Norfolk Southern train derailed in Southeast Michigan on Thursday
• Companies Impacted: Norfolk Southern. Potentially other US rail carriers should new regulations result from this incident
• Highlighted Coverage: Ohio Derailment: Head of EPA Visits East Palestine, But Residents Still Frustrated (New York Times)
• Highlighted Coverage: Ohio Derailment: Head of EPA Visits East Palestine, But Residents Still Frustrated (Reuters)
  

ConocoPhillips Arctic Drilling Project

ConocoPhillips' massive Arctic drilling project — Willow Project — is facing a challenge on environmental and biodiversity grounds.

• Environment America (EA) is calling on the US Department of the Interior to fully cancel the project
• EA alleges the project will result in a loss for the Teshekpuk caribou herd, polar bears, and migratory birds
• The Interior Department must wait 30 days before issuing its final decision
• Highlighted Coverage: As Willow project decision nears, Alaska ponders ties to oil (Roll Call)
• Highlighted Coverage: Alaska Native leaders, US senators advocate for Willow oil project (Anchorage Daily News)
  

Sony Playstation Antitrust Lawsuit

A group of gamers filed a lawsuit against Sony alleging monopoly practices with the PS Store for the Playstation game console.

• On Feb 10 2023, the presiding judge accepted a modified complaint filed by the plaintiffs
• A verdict against Sony could result in nearly nine million gamers compensated
• Highlighted Coverage: Judge refuses to dismiss class action antitrust claims against Sony (Courthouse News Service)
  

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