5 Most Important Findings of the Presidential Oil Spill Investigation - Treehugger

We need to devote more cash to policing the oil companies. The previous oversight regime of the Minerals & Management Service, as well as being corrupt and hopelessly ineffective, was also criminally underfunded -- most of its income came directly from the oil companies the regulators were supposed to be, well, regulating. The agency has been reorganized so the fox is no longer watching the hen house , so to speak, but it will require much more funding to be effective.

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The ol' 'you broke it you bought it' axiom certainly applies to the Gulf -- most of the fines that BP and other negligent companies are docked should be directed squarely at Gulf restoration efforts. Makes sense. Hear, hear -- in order to prevent legal maneuvering from the responsible parties, the $75 million dollar "liability cap" that was put in place with the Oil Spill Act of 1990 after the Exxon Valdez spill should be stricken down. As we've seen with the BP spill, oil disasters can cause much, much more damage than $75 million.

5 Most Important Findings of the Presidential Oil Spill Investigation - Treehugger