Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: maceng2 who wrote (73462)	5/11/2010 9:40:33 PM
From: Maurice Winn	1 Recommendation Read Replies (1) of 74559

That's the usual way these things happen: <the explosion on the Deepwater Horizon rig that triggered the oil slick was due to a "cascade of errors, technical, human and regulatory." > Did you see that the regulator said it was okay to replace the mud with water? Oooopss.... those dang government departments strike again. But they prefer to blame somebody else of course. Learned helplessness is a known psychological effect in which people stop thinking for themselves, because it's punished and not rewarded, and leave it up to the boss - in this case the regulator. Keep in mind that Chernobyl and the exploded Space Shuttles were government enterprises. The US$ is an entity run by government too, so it's not surprising that it's in big trouble. Private enterprise has to make a profit and not have disasters. They can't profit if they have disasters like the oil spill. So they have great incentive to avoid problems. If they don't comply with laws they go to gaol too, and get fired. Kicking BP out of the Gulf of Mexico won't be much help. Exxon and other producers will be pleased = more money for them with less competition. BP will invest overseas, which will harm the USA. Energy independence will be harmed [people say they want that, but I don't see why]. It's best to gaol the regulator, fine the various parties who were negligent, gaol some of them too if they committed crimes. Then get on with drilling for more oil. Mqurice

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