Quote:
Originally Posted by dyna mo
you're joking right? what do you think allowed the bp disaster?
The U.S. government is not alone in ceding responsibility to the oil industry for the design of key safety features on offshore rigs, a trend coming under scrutiny worldwide following the deadly blowout in the Gulf of Mexico.
Across the globe, industry-driven regulation is the norm, not the exception – and critics are calling for a re-examination of a system that puts crucial safety decisions into the hands of corporations motivated by profit.
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Are you saying the oil industry isn't regulated??!! hahahhahahahahahahahha
First I'll tell you what caused it... the 0.08 cent per barrel tax that pays for the disasters... As a company, why would I install expensive security and safety measures if my risk is minimal?!
INSTEAD if there was no $0.08 cent tax and the company, in this case BP was FULLY FUCKING LIABLE for all damages... I guaran-damn-tee you they would install every safety measure they could because the risk is too great.
The government supports shady practices by lowering their risk... through... control and regulation.
Same thing with fractional reserve banking. The FDIC insures all accounts up to $100k or whatever it is... This completely destroyed reserve banking because the risk to the consumer is NULL. If this insurance wasn't available then banks would not be loaning out 80%+ of their clients cash. You would see many more reserve banks and at least MUCH higher holdings by fractional banking systems...