Limited Liability for Destroying the Environment?   1 comment

Animals covered in oil

Though the oil spill destruction hasn't yet ended, Transocean is already motioning to cap its liability at $27 million. Is that all our environment is worth?

As oil continues to gush out into the Gulf of Mexico with no end in sight, instead of actually confronting the problem and dedicating all resources to containing it, Transocean has decided to go a different route.

They’re already thinking about the monetary cost of their actions and destruction of the environment.  While our environment should be priceless, Transocean has filed a motion to limit their liability in the fiasco to a mere $27 million–which unbelievable considering the rig itself cost more that $650 million to construct.

It’s appalling that all companies involved are blaming each other, but it’s more disturbing that Transocean has already decided to focus on the cost of the disaster.  Especially if the company was negligent in its ownership of the rig, there should be no limitation to their liability.  Is this not modern-day capitalism at its best?  Let’s ignore the environment and save our coffers!

Has your opinion on offshore drilling changed since this incident?  Comment below and let’s start a discussion.

More at the Wall Street Journal

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Posted May 13, 2010 by Connor Arter in Uncategorized

One response to “Limited Liability for Destroying the Environment?

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  1. This type of accident just illustrates the need to research bio-fuels. An algae farm setup next to a power plant can srcub the emmisions of the power plant, and provide fuel simliar to light crude. Algae can be turned into an oil, much like how vegetable oil is made.

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