20 Jul 10
1 edit
It seems to me that there is one response that would work best in this case. It is a response that I've never seen mentioned: Ban BP from deep water drilling in the US.
If your rig blows and you can't respond to it and create a problem, you will suffer the consequences.
Oil companies can still drill. The drilling rights can be sold to another company which raises more money for the US. Oil companies can continue to work which means both the oil and money will continue to flow. Punish the incompetent company, not all of them.
Incentives are the way to get what you want. Incentives can take the form of a carrot or a stick, in this case it is both. You can drill if you want, but make darn sure you can (and will) do it right.
Has anyone seen this response mentioned anywhere?
20 Jul 10
1 edit
Originally posted by EladarI agree.
It seems to me that there is one response that would work best in this case. It is a response that I've never seen mentioned: Ban BP from deep water drilling in the US.
If your rig blows and you can't respond to it and create a problem, you will suffer the consequences.
Oil companies can still drill. The drilling rights can be sold to another comp ...[text shortened]... rn sure you can (and will) do it right.
Has anyone seen this response mentioned anywhere?
If you hired someone to install a new sink in your kitchen and they caused the ceiling to cave in and were unable to fix or pay for the damages they caused, surely you wouldn't want to continue doing business with them.
20 Jul 10
Originally posted by EladarWho would you suggest enforce these consequences? The state or some kind of an independent regulatory entity in the private sector?
It seems to me that there is one response that would work best in this case. It is a response that I've never seen mentioned: Ban BP from deep water drilling in the US.
If your rig blows and you can't respond to it and create a problem, you will suffer the consequences.
Oil companies can still drill. The drilling rights can be sold to another comp ...[text shortened]... rn sure you can (and will) do it right.
Has anyone seen this response mentioned anywhere?
20 Jul 10
Originally posted by FMFhttp://cribbster.files.wordpress.com/2009/04/tony-soprano.jpg
Who would you suggest enforce these consequences? The state or some kind of an independent regulatory entity in the private sector?
I'd choose someone who's had some experience in "enforcement"
20 Jul 10
Originally posted by EladarWhat if the other companies estimate that the Gulf accident is such a freak event it will only happen once in a hundred years, but they can save 500mio a year on lax safety standards.
It seems to me that there is one response that would work best in this case. It is a response that I've never seen mentioned: Ban BP from deep water drilling in the US.
If your rig blows and you can't respond to it and create a problem, you will suffer the consequences.
Oil companies can still drill. The drilling rights can be sold to another comp ...[text shortened]... rn sure you can (and will) do it right.
Has anyone seen this response mentioned anywhere?
What would prevent them from winning the bid but be just as incompetent when it comes to safety standards ?
What if BP was actually the most competent developer but was unlucky ? Does anybody know ? Would it then be foolish to ban them going forward ?
I think a better option would be to dictate on what conditions that kind of opperation can be done. And demand that companies have emergency plans and dedicated funds if accidents do happen despite safety conditions.
20 Jul 10
BP is ultimately responsible for its rig. It doesn't matter what regulations are in place. Only people who believe that governement is the source of all power would believe that the governement decides what is good enough for protection.
As for who would enforce this, I'd imagine it's the same entitty that sold the rights to begin with.
20 Jul 10
Originally posted by EladarIf this incident was mere bad luck and BP was not doing anything differently than other oil companies doing offshore drilling, then punishing them so drastically makes no sense. Punishments should be fundamentally based on the level of culpability of the action, not the nature of the consequence.
BP is ultimately responsible for its rig. It doesn't matter what regulations are in place. Only people who believe that governement is the source of all power would believe that the governement decides what is good enough for protection.
As for who would enforce this, I'd imagine it's the same entitty that sold the rights to begin with.
20 Jul 10
Originally posted by sh76Doing business has the responsibility to protect nature. If the deep water drilling can't be done in a safe manner, it shouldn't be done at all.
If this incident was mere bad luck and BP was not doing anything differently than other oil companies doing offshore drilling, then punishing them so drastically makes no sense. Punishments should be fundamentally based on the level of culpability of the action, not the nature of the consequence.
20 Jul 10
Originally posted by sh76If this were merely bad luck, and I don't think it was) then who should be responsible for the cleanup then? The taxpayer who did even less to cause it? That is how we are privatizing the profits and socializing the losses.
If this incident was mere bad luck and BP was not doing anything differently than other oil companies doing offshore drilling, then punishing them so drastically makes no sense. Punishments should be fundamentally based on the level of culpability of the action, not the nature of the consequence.
If I accidentally spill oil on my neighbor's property then I am responsible for the entire damages even if it was entirely an accident. Why does bp get a pass?
20 Jul 10
2 edits
Originally posted by sh76This is true, especially when drilling oil. But when you go into buisness, you do so by taking risks. If something goes wrong, you have plans to deal with it. What happened in the gulf is totally unacceptable.
Nothing can be done in a completely safe manner.
If oil companies knew that they would be giving up their rights to drill if they screw up like BP did, I think you'd find that this will never happen again. Never underestimate BP and how low they will go, you've got to hit them where it hurts. Short term loss of money isn't much for them. Losing rights to drill and forcing them to shut down their rigs wouls hurt much more.
As it is the Obama administration is attempting to use this as an excuse for shutting down all drilling in the Gulf. This is much worse than simply kicking BP out of the Gulf.
21 Jul 10
Originally posted by EladarSo you propose self-regulation for this kind of thing? BP should somehow ban itself? There is no role for the American public - through its elected government - to create protections, to set the standards and regualtions, to enforce them, to punish bad practice?
It doesn't matter what regulations are in place. Only people who believe that governement is the source of all power would believe that the governement decides what is good enough for protection.