The results of this spill are disastrous, and will be felt for years to come. I suspect the worst damage is below the surface, where news cameras don't get their striking visuals of oil-soaked otters and cranes. But the food chain will be irrevocably damaged. Thanks BP.
Let's hope a teaching moment will come out of this disaster - perhaps an effective way to re-align the incentives of off-shore drilling. As it is now, oil companies do not take on associated risks with drilling but go away with the profits - much like the "moral hazard" problem in the banking system. Big oil can gamble with someone else's fragile ecosystem, profiting when it works and washing their hands when it doesn't. Obviously, this needs to change, starting with removing the $75 million damage cap for oil spill cleanup.
Read the Article at HuffingtonPost
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