Friday, October 22, 2010

Government Corruption Caused BP (NYSE:BP) Oil Spill, Testimony

The recent testimony of William Reilly of the National Committee on the BP Deepwater Horizon, asserted the BP (NYSE:BP) oil spill from the explosion on the Deepwater Horizon oil rig was caused by government corruption, rather than simply being an accident.

Reilly blamed the "accident" on the government and its regulatory agencies like MMS refusing to enforce or implement basic safety practices and measures.

Reilly said, “We have found that the industry has distorted and impeded effective rule making and prevented rules from being made.”

In other words, Reilly claims the government and industry are working together against safe drilling.

“The regulatory and inspection process has been subject to political and industry pressure. The industry has successfully sought congressional intervention to prevent implementation of mms rule making,” concluded Reilly.

As long as lawmakers and the oil industry are in bed together, safety issues will not be properly addressed and more oil spills could happen in the future in the Gulf of Mexico, according to Reilly.

No comments:

Post a Comment