Comment Re:If only big government had stayed off their bac (Score 2) 308
From the Wikipedia link: "many claims are expected to be met administratively from the fund set up for that purpose under the Oil Pollution Act of 1990"
The Oil Pollution Act set up funds to prevent civil liability for spills. It capped BP's maximum liability for the spill at $75M. So I ask, what lawsuit risk? The government already set up a system such that BP knew exactly what it was liable for - a total risk of $75M.
But we need those regulators, right? I mean, they obviously kept the spill from happening, or at least knew it was going to occur... U.S. exempted BP's Gulf of Mexico drilling from environmental impact study
No, the reality is regulatory capture. The only people with enough expertise to oversee something as complex as oil drilling are largely people who have worked in the industry, who have friends in the industry, and often benefit financially from the very companies they have to regulate. BP gets a pass, regardless of how many regulations are on the books, because the guy that's regulating went to college and worked for 15 years with the guy he's trying to regulate.
But really, keep calling people that disagree with you anti-science, or anti-evidence. It makes it easy to tell you're being partisan instead of rational.