May 26 2010
It’s safe to assume that the vast majority of people, who are not closely involved with the offshore oil drilling industry, sort of thought that these multi-billion dollar companies had the expertise and resources to plug a leak if something went wrong with their pipeline.
Boy, were we ever wrong.
Nice business model: “We’re going to get this product out of the ground and sell it for many billions of dollars every day. But if there is a catastrophic failure, well… we’ll improvise a solution if that happens. We’re not in the business of crossing our bridges until we come to them, you know? Why set aside significant resources for safety features that will cost huge dollars when our legal liability will be limited to a small fraction of the damage?”