Arkema, the Crosby chemical plant, could have neutralized its organic peroxide but chose not to.

[sharedvalues]

3. This is a lie: "No one anticipated six feet of water."

We can guarantee that there were risk managers or facilities managers or operations people or engineers who

calculated the probability of six feet of water.

That quote should be "We estimated the probability of six feet of water, and judged it too low to lose the money we put into our feedstock".

Probability calculation happened at Fukushima: they estimated the size of tsunami that would occur in a 1 in 100 year probability, and designed around that. They should have planned for a 1 in 1000 year probability. But that would be more expensive.
This is all a tradeoff between risk and cost. Small errors in estimating tail risk can have HUGE effects on cost -- and consequences of failure.