Posts Tagged ‘regulatory capture’
Early Monday
* BP claims the Deepwater Horizon link has been partially contained. I’m partially impressed. Scientific American points out that what’s happening today will have consequences for decades. Elsewhere in oil news, the oil lobby is fighting efforts that would make them more accountable for the actual costs of their toxic industry, while elsewhere in the world the tar sand rush is on.
* Climate change: still real.
* The financial reform bill: better than you’d think?
* Aesthetic controversy in Detroit! Can street art be moved and preserved?
* Aesthetic controversy in Scranton! The Office should not survive Michael Scott.
* Terror in Greenwich! Old-money WASPs being forced out of their homes and nonprofit boards by Jews, Catholics, and “others.”
* Popular Science remembers your cities of the future.
* Today cell phones don’t cause cancer. Live your life accordingly.
* And dueling commencement addresses: Rachel Maddow (part 2, part 3), Glenn Beck. Stay for the end of the Beck for some really intriguing anti-intellectualism that pits eggheads and their so-called “expertise” against the mighty Holy Spirit. Guess who wins.
Just a Drop in the Ocean
We may not ever be able to cap the spill in the Gulf. As many as 2 billion gallons of oil could eventually be spilled, likely making this the manmade worst disaster of all time—but don’t worry, BP’s CEO says that’s just a drop in the ocean.
Meanwhile, Deepwater Horizon is turning out to be a case study in regulatory capture.
Drill Baby Drill
whistleblower.org: The Wall Street Journal reports that the well lacked a remote-control shut-off switch that is required by Brazil and Norway, two other major oil-producing nations. The switch, a back-up measure to shut off oil flow, would allow a crew to remotely shut off the well even if a rig was damaged or sunken. BP said it couldn’t explain why its primary shut-off measures did not work.
U.S. regulators considered requiring the mechanism several years ago. They decided against the measure when drilling companies protested, saying the cost was too high, the device was only questionably effective, and that primary shut-off measures were enough to control an oil spill. There’s more at the link.