The regulations were put in place over 20 years ago. The govt should back out. They will do more harm than good. I believe the majority of the people in this forum have consistently expressed opinions that govt gets in the way of the private sector, reduces efficiency, prevents the private sector from achieving results, and puts undue financial costs on the citizens of this country. Well, majority wins in a democracy. Let the private sector handle it. I am sure they will do a fantastic job in the long run. Long run being defined as greater than 30 years. The last thing we need is more govt regulations, more federal work force, the USA can't afford it's bills now and I am sure the public does not want their taxes to be raised to pay for more regulations and a bigger govt---the private sector can handle it.
I'm not sure I understand this argument. I keep hearing about how the free market is more responsible and efficient than government. In support of that, the US has relaxed regulations and de-funded regulatory agencies to the point where industry runs the oversight. Now that the industry has had a spectacular failure, there are more and more calls for government intervention.
At what point do we finally realize that what's best for big business isn't necessarily good for the people. Or does everybody here agree that "poop happens", and that even less regulation will magically make everything better?
BP has a history of placing profits over safety. Just look at the internal "Three Pigs" memo that BP used to justify the cost savings of cheap refinery office space over the cost of potential loss of human life.
Is now the time to relax industry regulation even more?
Twine is cheaper than standard rigging, so is it better to rig with twine? It sounds pretty stupid to me. But using a BP cost/benefit document, it would seem that if it were up to BP, we would all be sailing with twine.....