BP Takes A Page From Wall Street And Foists Privatized Gains And Socialized Losses On Society As A Result Of Washington Incompetence And Corruption
This is a very disturbing article. There are many disturbing revelations about this leak. In a society that sent people to the moon two generations ago and can harness the power of the atom, I am quite confident we can engineer an emergency shut off valve that works. That government knew there were sufficient flaws with existing technology or that little technology at all was used to protect our ecosystems all so a monopoly oil company could pay its executives larger retirement packages is inexcusable. If BP would have taken all of the money it spent manipulating our government and running ads telling us how it is a responsible corporate citizen, and instead invested in offshore safety technology, we probably wouldn't be witnessing this massive spill.
This spill looks like it is going to be the worst oil disaster in American history unless some new ideas bubble up very quickly. Society saved a marginal amount of money by having no strong regulatory controls or demands by regulating agencies to actually prove oil companies have viable risk controls before drilling in fragile ecosystems. On the back end society pays an enormous price with a spill that will stretch thousands of square miles. This disaster will destroy fragile life and ecosystems for generations, cost billions to clean up, destroy economic opportunity, likely cause completely virtuous businesses to declare bankruptcy, cost untold loss of jobs by people who had nothing to do with this and harm society to the tune of what could be hundreds of billions of dollars over some substantial period of years. Will BP compensate all losses? There are special compensatory laws for this type of spill but the answer is a resounding absolutely no. Not even close. The costs for this type of disaster cannot be quantified.
Does this sound familiar? I think it sounds a little like privatize the profits and socialize the losses. Looks like British Petroleum took a page out of Wall Street's book of thug-based economics. It's not even capitalism. This is indeed fascism by the definition of the word. That is, capture our government for a few measly dollars so companies can then run roughshod over society. Then when we have a problem, society picks up the tab.
I would literally rather go to a shopping mall and randomly pick 550 people to represent us in Congress. And so would most Americans outside of the political class.
Oil story link here.
This spill looks like it is going to be the worst oil disaster in American history unless some new ideas bubble up very quickly. Society saved a marginal amount of money by having no strong regulatory controls or demands by regulating agencies to actually prove oil companies have viable risk controls before drilling in fragile ecosystems. On the back end society pays an enormous price with a spill that will stretch thousands of square miles. This disaster will destroy fragile life and ecosystems for generations, cost billions to clean up, destroy economic opportunity, likely cause completely virtuous businesses to declare bankruptcy, cost untold loss of jobs by people who had nothing to do with this and harm society to the tune of what could be hundreds of billions of dollars over some substantial period of years. Will BP compensate all losses? There are special compensatory laws for this type of spill but the answer is a resounding absolutely no. Not even close. The costs for this type of disaster cannot be quantified.
Does this sound familiar? I think it sounds a little like privatize the profits and socialize the losses. Looks like British Petroleum took a page out of Wall Street's book of thug-based economics. It's not even capitalism. This is indeed fascism by the definition of the word. That is, capture our government for a few measly dollars so companies can then run roughshod over society. Then when we have a problem, society picks up the tab.
I would literally rather go to a shopping mall and randomly pick 550 people to represent us in Congress. And so would most Americans outside of the political class.
Oil story link here.
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