News sources already start to sing in unison: the Macondo spill is already over....
With the usual excellent timing one learns to expect from news sources, and even though the Macondo well is still not premanently sealed, already stories realizing the damages are not as high as previously estimated, and that BP deserves some credit for its management of the crisis, start to accumulate. The choir is here people. I personally guess that the next development in this crowd-behavior will be, once that BP stops being a scapegoat... to find another...
If this prophecy actually comes true, it might be another proof that free market forces do come to their senses in the long term. One cannot expect kittens to guard the cream, and in really high-risk industries, there is only one way to ensure 200% safety precautions taken, and way-unneeded security measures used, just-in-case. we call that regulation. heavy regulation. the same kind of regulation that used to exist until the late 80's in the financial arena of the United States, as a lesson from 1929 and the great depression. the same regulation that was dismantled in belief that the market forces should be given more room to play. As Oil is the blood of modern economy, I seriously doubt wheather serious regulation changes, which will hinder the usage of possible oil sources, will take place. But I wouldn't be surprised at all, if Obama's administration will pay the price for the cognitive dissonance modern society suffers, as it has little patience for high oil prices, and little patience for the realization of the risks necessary to produce the amounts of oil that will keep prices down...
Oh, Mama! ... Beware Obama.
If this prophecy actually comes true, it might be another proof that free market forces do come to their senses in the long term. One cannot expect kittens to guard the cream, and in really high-risk industries, there is only one way to ensure 200% safety precautions taken, and way-unneeded security measures used, just-in-case. we call that regulation. heavy regulation. the same kind of regulation that used to exist until the late 80's in the financial arena of the United States, as a lesson from 1929 and the great depression. the same regulation that was dismantled in belief that the market forces should be given more room to play. As Oil is the blood of modern economy, I seriously doubt wheather serious regulation changes, which will hinder the usage of possible oil sources, will take place. But I wouldn't be surprised at all, if Obama's administration will pay the price for the cognitive dissonance modern society suffers, as it has little patience for high oil prices, and little patience for the realization of the risks necessary to produce the amounts of oil that will keep prices down...
Oh, Mama! ... Beware Obama.
תגובות
הוסף רשומת תגובה