Gerry Canavan

the smartest kid on earth

Stay Classy, BP

with 2 comments

British Petroleum is already trying to weasel out of its obligations in the Gulf by offering coastal residents $5,000 lump sums.

Written by gerrycanavan

May 3, 2010 at 2:03 am

2 Responses

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  1. A case of the tradgedy of the commons?

    Frankly, why should they offer more when they don’t have to?


    May 3, 2010 at 9:39 am

  2. I wouldn’t expect them too, but we don’t have to take what they offer and I hope no one does. There’s a legal framework by which BP can be made to pay for this to both the state of Louisiana and its impacted residents. I wonder if the company can actually survive the level of responsibility they now shoulder in the Gulf.

    The tragedy of the commons has a meaning opposite to what most people seem to think. The historical tragedy of the commons didn’t occur when the land was communally owned but only after it was fenced off — that is, it was the enclosure movement itself that caused the problem. The pre-enclosure status quo had social institutions that regulated the commons just fine. See, for instance:


    May 3, 2010 at 9:51 am

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