They should pay for the cleanup
Reader comment on: BP, Obama, and the Rule of Law
in response to reader comment: Spilling oil helps progressives to inflate their money,power
Submitted by ben (United States), May 4, 2010 20:35
It seems unlikely at this point due to how huge BP is, but as a thought experiment, what would happen if this spill and the cleanup were to bankrupt BP? Who is on the hook at this point? Would the US go after other oil companies or just put the cost on the taxpayers, as Republican governors of the LA, MS, and AL want to do by mobilizing the national guard (at taxpayer expense)? The more important point is that many industries pollute every day with real and measurable effects on the environment - global warming being the most dire of course. These companies do not currently price this pollution in nearly enough to make up for the social cost.
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The Future of Capitalism replies:
Great, if the rules are they pay for the cleanup, they pay for the cleanup, but there should be rules clear to everyone ahead of time, not ad hoc "boot on the throat" threats.
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