Tuesday, July 6, 2010

What is happening in the Gulf of Mexico

So a few weeks ago CNN's Anderson Cooper told us that jounalists and photographers were being denied access to some public beaches and parks while trying to report on the gulf oil spill. Now he reports about a new law that makes it illegal to be within 65 ft of booms, clean up boats or clean up crews. If charged you could face a felony conviction and be fined $40K - huh?

I understand (even thought I may not like) BP's attempt to understate the damages. In our capitalist society, their first duty is to their shareholders. Given that any culpability (money paid out) will be directly linked to the extent of the disaster, it is in their best interests to obfuscate and understate the scope of the oil gusher.

However, what I don't understand is why local, state and federal governments are aiding BP in their objectives. The gusher in the gulf could be a game changer - a black swan event when the US economy is already extremely fragile. And then there are the potential health risks to clean up workers and people living in the area which are not yet known.

There are many questions that need to be answered and keeping media at bay is not a step in the right direction.

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