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It's not misguided logic it's logic based on sound reason... not logic based on emotion and feelings (such as that which is so prevalent now)...
Exactly what specific points are you disputing about the article?
Slappin Fish mentioned the owning of the Ocean... more specifically an oil company owning the Gulf...
First, the ocean would most likely consist of large parcels of land with the water itself being a transient medium (much like air)... Much of the reef areas would be held as "National Ocean" (read National Forest) so it would be protected "land". Other individuals and corporations would own parcels of the ocean. I'm sure there would also be caps on just much you could own.
Now, when an incident like this goes down every person that gets oil in their parcel would be filing a class action lawsuit against the oil company because they have been polluted... Not to mention all the government fines associated with destroying a National Park... This is where the liability comes in. The oil company would be 100% liable for everything and it can all be quantified. It's all a property rights system... the way land works now. However, the government declared the ocean "common" ground before we had the means to develop a solution to "dividing up the ocean" in any way.
Remember you wouldn't be owning the ocean or water or fish or anything like that, you would only own the space...
I'd be happy to clarify any additional points in that article. BFT3K, you're obviously an opinionated intelligent person. It may be worth another read as it does make some very interesting points, regardless of what side of the fence you're on.
It's from Mises so of course it's going to be pro capitalism and anti government interference... I'm a Libertarian so it's inline with my views. What you need to glean from it is that the article is promoting MORE CORPORATE ACCOUNTABILITY, not less. It's saying the burden should NOT be on the tax payers and that BP should be 100% liable for the damage it has caused. Instead the way the legislation is now the tax payers carry the burden and the oil companies make decisions NOT to install safety measures because the government is going to pick up the tab.
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