Quote:
Originally Posted by BestXXXPorn
I just learned today that the oil companies are only liable for damages caused to everyone UP TO $75M ... the government covers the rest...
Apparently there's an $0.08 tax on every barrel to cover it and there's currently about $1B in the fund...
That's fucking BS no wonder they didn't install the safety valve thing... They don't have to face the full consequences of a disaster!
The $0.08 tax should go away and oil companies should be fully liable for every fucking cent... If they were fully liable I guarantee you they would have put that valve in... too big of a risk NOT to but if you only have to be liable for a fraction of the damages what's the incentive to pay the extra cost up front?
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Exactly, the problem here isn't that companies want to make money, the real problem is that government interference in the economy (limited liability etc) created a situation where companies have no reason the prevent problems.
The solution to the problem is: less government. In a free market system, in a pure capitalist system, companies would be liable for 100% (or more) of the damages caused.... a clear incentive to care about safety.