Not in favor of unlimited liability?

Reader comment on: Contango's Kenneth Peak on the Gulf of Mexico

Submitted by ben (United States), Jun 10, 2010 21:16

If he isn't in favor of unlimited liability, he must be in favor of socializing risk. this man is a socialist. He expects taxpayers to help pick up the tab for the errors of a private company. If companies don't pay for the negative consequences of their actions, they shouldn't drill. How is what is saying any different from the arguments used to save car companies? Jobs at stake! Can't let the oil companies fail! This man favors corporate welfare and crony capitalism.

For too long oil companies have not been pricing the cost of pollution into their product because they didn't have to. This spill should force them to do just that. While we are at it, we should also price in the cost of global warming gasses, which would make oil far more expensive relative to cleaner fuels.

Finally, on criminal liability, errors in judgment are one thing. Time will tell whether the cause of the spill was errors in judgment, or willfully cutting corners to decrease costs. If I were a betting man, I would guess this spill was about more than errors in judgment.

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