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Arkema CEO: There's no way to prevent explosion, fire at facility near Houston

The president and CEO of the chemical company Arkema said Wednesday that because of the extreme flooding at its Crosby, Texas, facility, there is no way to prevent an explosion at the plant.

"We have an unprecedented six feet of water," chief executive Rich Rowe said. "We have lost primary power and two sources of emergency backup power. As a result, we have lost critical refrigeration of the materials on site that could explode and cause a subsequent intense fire. The high water and lack of power leave us with no way to prevent it."

As a safety precaution, Arkema employees have been evacuated, and the Harris County Fire Marshal's Office said residents within a 1.5-mile area of the facility have been told they should leave.