This article from the Wall Street Journal discusses the new ideas being brought up in the U.S. government to better regulate off-shore drilling. These regulations would be in response to the BP PLC oil spill that affected the face of the industry overwhelmingly. Michael Bromwich, the head of the agency that regulates off-shore drilling, states that the industry has already made changes to its regulations and has responded to the spills. Although it is uncertain whether the government will step in with new regulation due to political schemes and issues with the economy, Mr. Bromwich claims that the agency is planning to create new regulations by the end of this month.
I believe that off-shore drilling should be restructured and regulated more, to prevent the types of issues that caused the BP oil spill. Regulation can help make the drilling practices safer and business techniques more structured so issues like this don’t happen again. After the BP oil spill, the conversation has risen over how BP dealt with their technical issues and how they dealtt, or if they dealt, with the spill after it happened. Other companies should be looking to increase their regulations just as BP is attempting to do, in order to appear ethically sound. The oil industry is losing its reputation politically and in people's minds, and only agreeing to greater regulation and implementing this regulation will people put more trust in the industry.
- Caitlin McGonnigal
http://online.wsj.com/article/SB10001424052748704285104575492301373764356.html?mod=djkeyword
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ReplyDeleteI agree that the government does need to get involved in this issue, but I also think that restricting offshore drilling or even implementing too much regulation, such as charging Oil industries higher fees for offshore drilling, may seem like a good solution, but it could also cost the jobs of many individuals.
ReplyDelete~Mimi Tekeste
I 100% agree that the government must start getting involved more with offshore drilling. The federal government needs to implement stricter safety codes on these rigs and also regulate where they are allowed to drill. Without these regulations there will just be another accident like BP (possibly even worse) and more of the ecosystem will get destroyed.
ReplyDelete-Ryan Parker