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‘Bad management’ caused Gulf spill

Companies chose saving money, time over safety


 

A presidential commission is blaming oil companies and federal regulators for the BP oil disaster that left 11 rig workers dead and the Gulf of Mexico awash in millions of gallons of oil. While BP bears the brunt of the blame, the commission’s report also faults Transocean, which owned the Deepwater Horizon rig, and Halliburton, which oversaw the sealing of the well, for making decisions aimed at saving time and money. Inadequate oversight and regulation on the part of the Department of the Interior, which did not have enough qualified staff to inspect the drilling operation, allowing the companies to cut corners. The report concludes that the disaster was an avoidable and recurring consequence of “systemic” inadequacies in industry practices and government policies.

BBC News


 
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‘Bad management’ caused Gulf spill

  1. More than enough blame to go around…

    I hope our offshore drilling is better regulated and monitored. With federal and provincial governments earning royalties off the projects (and with NL owning shares in the more recent production wells), there's always a worry as to how much the government will overlook to max out the income…

  2. What a surprise…

    The real question is what is anyone going to do about it? People will moan that the socialist Obama clearly is trying destroy America. Others will talk about how evil oil companies are and hwo the search for profit is never acceptable.

    Hopefully we get some actual intelligent people to take the appropriate measures in order to prevent another spill.

  3. Holy moly.. you mean in a system where management has fiduciary duty to stockholders, but none to the general public, management tends to pursue fiduciary gains to stockholders over the welfare of the general public?

    Wow, who ever could have seen that coming?

    I wonder if we'll ever remember as a society that we need not grant groups of people the rights and protections that we do to a company without also demanding commensurate obligations from them.

  4. This just in: Big Government confirms what everyone already knew! Next up: Big Government expects revenue windfall next year, is planning on how to spend the money.

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