BP (NYSE:BP), Chevron (NYSE:CVX), Conoco (NYSE:COP) and Exxon (NYSE:XOM) met recently with Interior Secretary Ken Salazar and Michael Bromwich, among others, over creation of new organization to improve safety measures in the industry through the establishment of best practices guidelines and new technologies related to the industry.
The new entity would be called the Ocean Energy Safety Institute, and would include the Coast Guard, regulators and industry representatives. The technological side would include using funds to do research and develop certain technologies to help the industry.
Interior spokeswoman Kendra Barkoff said about the meeting, “Secretary Salazar, Deputy Secretary David Hayes and Director Bromwich met with industry representatives today to discuss strategies for further developing and making available blowout containment capabilities moving forward.”
Some talk about whether or not the government will help fund the initiative has started, and in our view this shouldn't be something taxpayers should have to pay for.
Let the industry pay for things that could help improve operational safety, led by those that understand what's needed and the stakes at risk.
Other than ensuring compliance, the government should have no other role in the matter.
As far as proposed taxes on the industry, that wasn't included in the discussions, but that as well needs to be dropped so American consumers aren't hit with increased energy costs, which is what the outcome of more taxes would be.
When the government taxes any industry, it's the people who end up paying for it with higher costs.
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