Oil spill reform pending

myp · Jul 31, 2010

The House passed a oil spill reform bill that would increase regulations on big oil after the BP oil spill. Included in the bill is an end to the Federal moratorium on deep sea drilling for companies that meet new safety requirements. The Senate has a similar bill on the table, without the moratorium.

The bill's passing in the House comes at an important time for Democrats as it is an election year and this could help them. House Republicans warned of reduced oil production in the Gulf that could lead to higher prices and a lower supply. President Obama supports the bill.

source: http://www.reuters.com/article/idUSTRE66T0NP20100730

Thoughts?

jdsingle · Jul 31, 2010

Democrats are in an tight position as far as legislation being passed with elections coming up that is for sure. I think stricter safety regulations are necessary but a significant reduction in oil production and higher gas prices will resonate more with the people than the provisions will. Especially considering more than 75% of the US is not experiencing a direct effect of the oil spill in the form of oil in their waters and beaches and messing with their fishing.

Dirk · Aug 1, 2010

Well, yeah, I mean, that's fine - probably a good idea, ultimately, even. But just one thing - wasn't the spill due to BP's failure to adhere to safety standards in the first place? :giggle:

jdsingle · Aug 1, 2010

Dirk said:
Well, yeah, I mean, that's fine - probably a good idea, ultimately, even. But just one thing - wasn't the spill due to BP's failure to adhere to safety standards in the first place? :giggle:

LOL. Don't you know that the way to fix a problem is to create more regulation? Only thing that I see happening is increased fines for safety violations (that will continue to happen regardless of what bill is passed). Possibly force oil companies to pay a little extra in taxes to fund an expansion of safety offices who inspect rigs built/in construction. Who knows anymore. It's either expand to fix or contract to fix.

Think it is time for my afternoon dose of Fukitol. Two a day keeps my brain okay.

obtuseobserver · Aug 4, 2010

Dirk said:
Well, yeah, I mean, that's fine - probably a good idea, ultimately, even. But just one thing - wasn't the spill due to BP's failure to adhere to safety standards in the first place? :giggle:

Yup. Which was going to be my point.

If bad acts were eliminated by making them illegal or regulated there would be no crime nor industrial "accidents" of this nature.

There is little that can be done with people determined to violate the law. We can punish them after the fact and hope others are deterred but...

Oil spill reform pending

myp

jdsingle

Dirk

jdsingle

obtuseobserver

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