Quote:
Originally Posted by woj
the damages are covered by the $0.08 tax on every barrel, which is in a way just an insurance policy, all oil companies pay for it, then if something bad happens the clean up costs are covered by the $$ in the fund, exactly the same way that insurance works...  |
The $0.08 tax that goes into the fund is a price determined by politicians (bought and paid for by the big oil companies), the $0.08 is not a market determined price. In a free market the price for a $75m limited liability insurance policy would be a lot higher.