Cap oil drillers' liability?

Discussion in 'Politics' started by Supposn, May 20, 2010.

  1. Supposn
    Offline

    Supposn Senior Member

    Joined:
    Jul 26, 2009
    Messages:
    863
    Thanks Received:
    27
    Trophy Points:
    51
    Ratings:
    +31
    I suppose the oil companies already limit their liability by creating separate corporations for each drilling project or major sub-task.

    The off shore drilling rig is legally a vessel registered to a foreign nation and answerable to their, (not USA's) regulations. It’s the USA and state taxpayers that are left financially and environmentally unsheltered.

    I advocate that the drillers be required to purchase liability insurance that should at least cover a great amount for the partial cost due to their recklessness or imprudence. The amount of insurance required should be in principle be directly related to the extent of reasonably conceivable possible damage amounts, and the degree of risk.

    I of course regret our federal and states' legislators and regulatory agencies are too well aware of political contributions made on behalf of miners, drillers and their clients' interests. Public interest is damn'd. The same politicians that now want to “cap” oil drillers’ liability assured us that there would be minimal risks due to off shore drilling.

    [This particular Gulf of Mexico fiasco is due to a supervisor’s decision to ignore their own technicians’ reasonable determination that a seal was damaged, and then they removed the much heavier “mud” from their pipe and depended upon the weight of the salt water if there was any problem. (That heavier “mid” is SOP because of oil industry’s technical knowledge and experience).

    The decision was made to save time and we all know that time is money. That decision has cost 11 lives and damage beyond anything we can conceive].

    Respectfully, Supposn
     

Share This Page