Regulators in other countries require oil companies to install more than one “blowout preventer” on oil drilling platforms at sea. The failure of the single blowout preventer on BP and Transocean’s Deepwater Horizon oil rig led to the ongoing oil spill catastrophe in the Gulf of Mexico.
Christian Science Monitor reports on how big oil companies dominated U.S. regulators and took advantage of weak policies to increase corporate profits at the expense of U.S. citizens.
“Boosterism breeds complacency and complacency breeds disaster.” – House Energy and the Environment subcommittee Chairman Rep. Ed Markey (D) of Massachusetts, on Tuesday
(Source: Christian Science Monitor, May 6, 2010)