I can only hope that the other tens of thousands of chemical producers and users in America are doing as well as Sybron in addressing this insidious problem. We have an excellent group of witnesses here today who have taken time out of their busy schedules to help us shed light on the Y2K problem in the chemical industry. Before we begin, let me talk briefly about the importance of the chemical industry. The crude oil refining industry keeps American transportation running. And, the manufacture of virtually every consumer product is in some way dependent on vital chemical ingredients.
Chemical products are present in everything from shampoo to floor polish.
The chemical industry has set high standards for safety, and has a very proactive program to preserve this record and to continuously improve on health, safety, and environmental performance. This industry is one that is already accustomed to dealing with risks, and I am hopeful that we won't see any Y2K-related problems. Nevertheless, the chemical industry warrants our attention because accidents can have such devastating effects. Even though it happened over 15 years ago in another country, most of us remember the Bhopal accident that killed several thousand people and injured tens of thousands of others. We have never seen a chemical release of that size in the United States, but the potential for harm is great.