Deepwater Horizon and Obama's Misdirected Lynch Mob
Long before any of the facts about the Deepwater Horizon accident became known, President Obama led the American people in pinning all blame and liability upon British Petroleum Plc, who had leased the rig to drill on a site they had a licence for. (The process of getting a licence involves paying money to Federal and State governments). The rig was owned and operated by the Swiss company, Transocean, and the actual work directly involved in the accident was being done by the sub-contractor, Haliburton, a name that ought to be recognized by anyone who has an interest in political scandal and corruption in the United States, or Iraq. Under American law, BP carry all the liability, because they own the licence on the well. Placing the moral blame on them as well, is typical Chicago politics. But if anyone is actually looking for the intrinsic cause of this and other oil-industry accidents in the United States, it is precisely this: The liability for the environmental and economic dama...