We will pay for the BP oil spill disaster

I am of mixed feelings how the BP oil disaster should be paid for. It is the fault of BP, the oil industry, and our government. Our government should have required adequate safety, and frankly probably should not have allowed this type of drilling. And our government should have demanded higher fees for the mining rights.

There are countless examples of disasters for which society has bailed out the victims, even when it is evident that the victims were foolish about building in flood zones, or other unsafe places. It seems that the logic requiring government bailout for those victims will require that “we” also help BP. We are all angry with BP, but they are still a victim. This disaster will be too expensive for BP to pay for, so society will have to pay for it.

Our lesson is that we need to be careful with the environment. We must always consider the possible consequences and the costs. This might mean we have to walk away from risky projects. Or it might mean that we demand higher fees for mining rights and better insurance. It certainly means that we cannot afford to allow mining companies (oil, minerals, timber, water) to harvest public resources without adequate consideration for the environment and without adequate payment to the public treasury.