The price of progress...

I'm more than inclined to agree with Ryan on the "blame" question... barring evidence of criminal negligence, BP can't be held responsible for the actual explosion and damaged that resulted from it. This sort of accident is not the same as an "Act of God", as Jambo keeps saying, but it is an accident all the same, and accidents happen.

BP holds the bag on paying for the mess... that is part and parcel with reaping the rewards of successful drilling, right? If they can get the oil out of the ground in a safe and clean manner, then the profits for the sale of that oil is theirs and theirs alone after contractual obligations are met (State and Federal fees and taxes, I mean). If something goes wrong, they have to clean it up... literally. Exxon did in 1989, and BP will do it now. It is very costly, it is very painful... but it will get done, and BP will continue to make profits in spite of the mess. I'm confident that BP cut no corners... the failure of the preventer valve is unprecedented (clearly so, since it hasn't happened in more than 35 years of deep ocean drilling) and can't be something the public can reasonably expect to be looked for in planning this sort of operation.

I think we might be missing Jambo's point though...

I understood that he was asking who was responsible for the settlement of lost revenue claims by the seafood and tourist industries that are so effected by the spill. Again, I say that BP holds that bag, too. In the "ideally" unregulated speculation-pricing market that is the global crude oil commodity column of your daily paper, the rewards to be made in producing crude oil are staggering... almost astronomical in nature. Ryan thinks this is the way things should be, and his argument is sound in most ways (arguments to the contrary have been made in the past), but if he is right, then the risks involved in getting that oil to market are also part and parcel to the profits made. You can't have the rewards without taking the risks.

So, if the profits that companies like BP and Exxon make in producing energy are fair and just regardless of the scope of those profits (as Ryan has contended time and time again), then the costs associated with gaining those profits are just as fair and just and should be assumed as quickly as the profits themselves by the company taking them. IF it is determined (or has been determined) that the cost incurred by the shrimp boat owners and oyster processors and fish mongers is ALSO part of that risk, then it is fair and just to expect BP to pay them.

Jambo was asking if the Feds had that responsibility, or did BP? I say (again) that BP holds that bag, and any assistance or efforts made by the Feds or various States will have to be paid back by BP.