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Why the oil spill isn't BP's fault : Comments
By Kris Sayce, published 18/6/2010Because of a lack of private property rights there's no private owner putting pressure on BP to clean up the Gulf of Mexico oil spill.
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This spill was most definitely BP's fault, and more stringent safety rules with real teeth are the answer.
At a local Geelong oil refinery there are regular spills. The company just pays the fines, year after year because the fines are less expensive than fixing the plant. When the issue is raised they threaten to move to Asia. Jobs vs pollution: jobs win. Of course they will shut down and move to Asia anyway...but only when most profitable to do so. Privatising everything is a very silly idea!