Oil industry publication " Oil & Gas Journal November 18, 2010 Oil firms evaluating potential US offshore regulations "
Basically the oil industry is again complaining about the federal government removing the $ 75 million cap on oil spill damages .
I do not think there should be a cap on damages created by a offshore oil spill , quite plain an simple the oil company and all other companies responsible should be responsible for the full cost of the clean up.
In the case of the Mocando well explosion and blow out there are 3 parties responsible BP , Transocean and Halliburton . There should be a cost sharing of the entire oil spill clean up cost which should go with the dedication of fault .
Take 100 % and divide it as the court allocates fault and require each company to pay a cost ot the total share of the oil spill clean up according to the percentage of fault which the court decides.
THATS FAIR , and it will make ALL companies involved in working in the offshore waters of the gulf of mexico relaize they are responsible for thier actions as well as their inactions.
Quite simply if Transocean and Halliburton would have some legal responsibility of the consequences of their actions for the in the financial cost of the explosion and ensuing clean up of the oil spill , you can bet they would have stood up an used their STOP WORK AUTHORITY before just turning a blind eye to what was going on .
Oil company service providers in the offshore waters of the Gulf of Mexico share no responsibility for any consequences of a oil spill , its all on the offshore lease operator .
So basically if a company like Transocean or Halliburton do something incorrectly or look the other way while something is amiss and a oil spill occurs as a result then the entire blame and financial responsibility is only on BP , and thats just not fair.
This allows offshore oil service companies to provide inadequate services or even look the other way with no responsibility. It holds no ACCOUNTABILITY for the actions of the offshore oil service companies.
Truth be told there are approximately 50 times as many oil service companies as there are oil companies.
The oil service companies provide approximately 95% of the personnel to the oil industry while the BIG oil companies directly employ approximately only 5 % of the entire work force
There needs to be some ACCOUNTABILITY & FINANCIAL RESPONSIBILITY dedicated to the oil service companies when their products or services are involved in the events which cause environmental pollution in the offshore waters of the Gulf of Mexico.
This will make 100% of every company working in the offshore oil industry take responsibility for ensuring their products and services do not cause a environmental oil spill.
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