Monday, June 21, 2010
Thoughts on the $20 billion Shakedown...
In case you missed the last blog entry on this site, I am in favor of BP paying for the cleanup of the property that is owned by all and therefore owned by no one. This is the nature of common property - if one of the part owners/nonowners does something to ruin what the rest of us partly own/do not own then that party must bear the responsibility for the damage done to the rest of us. BP - as my brother pointed out via email - made a lot of bad decisions stemming in large part from poor management on the oil rig. BP, according to The Wall Street Journal relied on less expensive, and riskier technology to drill for oil in deeper waters. Whatever millions BP saved by going cheap and having bad management/crisis planning, it is now paying for - and then some. I am fine with that. If $20 billion is not enough, let it be $23 billion or $36 billion. Whatever. I, like you, want BP to fix the mess it helped create.
Now lets turn to another huge spill that threatens far more people than BP will ever hurt. This spill has caused trillions, yes, trillions of dollars in damages and will have a catastrophic impact on our children, grandchildren and their grandchildren.
This spill is the huge gusher of money that our federal government has blown through since...well, since FDR with an acceleration in the name of Bush Compassion/International Pre-emptive Conflict and Obama Socialism/Keynesian Fallacy Worshipping.
Tell me please - how do we sit here and cry for dead pelicans and turtles who are covered in BP oil, when our future human citizens are covered in debt? Why should I rejoice when BP's CEO is dragged before Congress for his tar and feathering when no one from Congress is dragged before us to explain the trillions wasted in concept wars, health care for all, endless welfare benefits, bailouts for Harvard MBAs who were too stupid to recall the phrase "boom and......bust" and on and on and on?
It is a pathetic joke that BP is held to scrutiny of one standard for ruining the Gulf of Mexico while our own government gets to ruin every state in the nation with no accountability whatsoever.
Someone please explain this paradox to me.