Archive - May 29, 2010 - Blog entry
Oil Drilling Liability Cap Led To The Gulf Spill
Submitted by Econophile on 05/29/2010 14:44 -0500Why would BP take on a risky venture like drilling in 5,000' of water without adequate safeguards? I understand that BP may turn out to be incompetent relative to its peers. But they are a public company and as such they are responsible to shareholders and creditors. Why indeed. Here's a hint: their after tax earnings in Q1 were $6.1 billion and the economic damages liability cap was $75 million.
Relax! It's Not as Bad as You Think!
Submitted by Leo Kolivakis on 05/29/2010 08:30 -0500Alright ZHers, enough with the gloom & doom. It's time to fess up to the fact that it's not as bad as you think. In fact, it's time to get bullish on America and the rest of the world. Put away your crash helmets and enjoy the long weekend.
