Deep sea oil drilling: Too big not to fail
Is there is just too much revenue in big oil to stop dangerous deep sea drilling? The oil industry, like the massive investment banks behind the financial crisis of 2008, is considered by some to be ‘too big to fail’. Yet also like financial crashes, disasters are calculated by those in charge as risks worth taking. Sure, a tragedy on the scale of the Deepwater Horizon blowout in the Gulf of Mexico wasn’t expected, but the industry and the government – and everybody – knew that spills happen. Also like the banks, the oil industry is largely self-regulating, so they…
