Saturday, September 11, 2010

Pacific Gas (NYSE:PCG) President Chris Johns: We'll "Do What's Right"

At a news conference Friday, Pacific Gas & Electric Co. (NYSE:PCG) President Chris Johns said the company will do what's right for all the families who have been affected by the natural gas explosion which so far has taken four lives and injured over 50 people.

"We are committed to do what's right and what's appropriate to help all the families and others who have been impacted by this tragedy," said Johns.

The source of the explosion was a 30-inch pipe of PG&E, which ruptured, leading to the disaster. At this time it's not known what the cause of the rupture was.

A 30-foot wide crater resulted from the huge explosion which generated flames as high as 100 feet into the air.

Over 100 people were evacuated from the area after the accident, many of them now homeless and sleeping in shelters for now.

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