As of this writing oil has been leaking into the waters of the Gulf of Mexico for the past 30 days from the BP well that exploded. BP does not know how many barrels of oil is leaking into the Gulf each day and has yet to clean up and collect the oil that is in the water. That spill is still a danger to the coast, industries along the coast and related industries and BP still has no effective response. In fact they are asking outsiders for suggestions. That may be good PR for them but with 40 plus years of offshore drilling the oil industry is flying blind.
BP and the suppliers involved in drilling the well all passed the buck of blame on each other when their company spokesperson testified before Congress. Typical for an industry who has no shame and want to dodge their liability. Wealth is what turns the oil industry on and any challenge to that wealth because of liability does not sit well with the industry.
The BP spill and its aftermath proved beyond any doubt BP was not prepared for what happened and one can guess neither was the oil industry as a whole. If they were, they would have rushed equipment and expertise to deal with the matter timely. The state of Louisiana and the federal government needs to think this thing through before they allow any new offshore drilling in state or federal waters. The states and federal government need to find out how this story ends in terms of cost to life, the destruction to property, the environment, the business community and a way of life.
Jonathan Tilove reported in the Times Picayune that the $75 million liability cap on oil spill damages is being revisited by Congress and U.S. Senator Robert Menendez introduced legislation that would raise that figure to $10 billion. U.S. Senator James Inhofe blocked Menendez effort to bring the bill to the floor. President Obama urged Senate Republicans to stop playing special interest politics and join in a bipartisan effort to protect taxpayers and demand accountability from the oil companies.
Tilove also reported U.S. Senator David Vitter has offered a counter proposal that would set the liability cap at $150 million or a company's last year profits, which ever is greater. This writer's understanding is that the spill has already cost BP over $400 million so Vitter's $150 million cap is a crude joke on the people. As for using a company's last years profit to determine liability that is a mega cruel joke on the people since businesses can come up with all kinds of expenses to reduce profits.
President Obama, Louisiana Governor Bobby Jindal and the Congress have an opportunity and the responsibility to make sure the BP and the oil industry is held accountable for this spill and any future ones with clear regulations and laws that get the job done for the people. Time will tell if all three live up to their responsibility.
