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Old 06-18-2010, 08:59 PM
pampl pampl is offline
 
Join Date: Oct 2008
Location: Seattle
Posts: 750
Default Re: The Week in Blog: Mind-Exploding Edition (Bill Scher & Matt Lewis)

Quote:
Originally Posted by DenvilleSteve View Post
It is a shakedown of BP. Government should not be arbitrary. The law limited the liability of oil exploration companies for a good reason. The potential damage that can be done from a drilling mistake 5000 feet below sea level is so high that it is reckless for a private company to engage in such oil exploration. Now, after the fact, the mob wants to change the rules and take all of BP's money. Barton was right to apologize to BP.

Not to excuse BP for what it did. We can see that BP is not a well run company. It should not be allowed to explore for oil in US territory.
I feel kind of weird about this but I almost agree with you.. were this any other sector it'd be a travesty. Oil contracts are slippery things though, and there's a reason none of the oil companies batted an eye at a contract being ignored- it's SOP in this field. BP's probably just glad they haven't had all their assets seized.
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