As a capitalist, let's look at the contract: BP asserted over and over that they could do such drilling safely. They asserted that in the unlikely event of a spill, oil would be unlikely to reach the coast because it could be easily contained. That's their contract with the American people (via the government) who granted them the license to do such drilling.
Capitalists take contracts extremely seriously. The whole free market system rests on them. One of the primary justifications for the existence of government is to enforce such contracts.
So -- as a capitalist and a supporter of business and free enterprise -- BP needs to make good the environmental damage including costs of clean-up, damage to the tourist industry, damage to the fishing industry -- the whole deal.
When you are in business and take risks, these things happen.
Originally posted by spruce112358"Capitalists take contracts extremely seriously" when it is to their financial benefit to do so. When it isn't; not so much. I expect that BP has a army of lawyers already retained to fight to reduce their financial liability as much as possible for as long as possible.
As a capitalist, let's look at the contract: BP asserted over and over that they could do such drilling safely. They asserted that in the unlikely event of a spill, oil would be unlikely to reach the coast because it could be easily contained. That's their contract with the American people (via the government) who granted them the license to do such dri ...[text shortened]... g industry -- the whole deal.
When you are in business and take risks, these things happen.
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Originally posted by avalanchethecatYep, just like Exxon did in Alaska. Foot the bill for an army of lawyers to drag it thru the courts for years until they exhaust the finances and will of anyone inclined to fight them and then appeal for mercy to the supreme court.
Hand up everyone who thinks BP's gonna be footing the bill for that little mess...
BTW - have you been to southern Louisiana? The devastation wrought since the 40s will never be repaired and no one will ever be held responsible.
Originally posted by peanutpicker61As Joe Shmoe taxpayer pays for higher rates at the pump. LOL.
I know they are gonna foot the bill....
I think it is high time to convert our cars to natty gas!!
I suppose this is the best news environmentalists have heard since cap-and-trade. Now lets increase fuel rates!! ðŸ˜
Originally posted by no1marauderIt isn't capitalists who conceived that government should be unable to deliver swift, sure justice.
"Capitalists take contracts extremely seriously" when it is to their financial benefit to do so. When it isn't; not so much. I expect that BP has a army of lawyers already retained to fight to reduce their financial liability as much as possible for as long as possible.
That notion was achieved by the highly self-interested American Bar Association lobbying a lumbering Big Government that is so busy trying to "redistribute wealth" that it has completely forgotten what it was created to do.
Originally posted by spruce112358If that makes you sleep better at night, fine.
It isn't capitalists who conceived that government should be unable to deliver swift, sure justice.
That notion was achieved by the highly self-interested American Bar Association lobbying a lumbering Big Government that is so busy trying to "redistribute wealth" that it has completely forgotten what it was created to do.
Anyone who thinks that capitalists and their cronies don't make the rules in the USA is deluded.