The BP oil spill, the world asks what should government do? but I ask: What CAN government do?

Posted on May 27, 2010 by

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The question should probably be what CAN government do? my answer: Nothing! Why??? you may ask.

“Expertise and resources lie within the private sector with BP” admiral declares! Adm. Thad Allen stepped down as the head of the US Coast Guard Tuesday but retained his appointment by President Barack Obama as national incident commander in response to the Deepwater Horizon oil spill in the Gulf of Mexico.

As I mentioned in a previous article, it is hard for me to imagine Federal Government staff with more expertise than the oil industry experts that are working around the clock to try to contain the damage in the gulf region. It is in BP’s best interest to resolve this situation as quickly as possible and they will spare no resources in order to do just that.
The longer it takes for BP to clean up the ecological disaster in the Gulf region, the more “free market capitalism” will punish the company for its mistakes and for its lack of social responsibility. BP stock will continue to suffer (No surprises if they report lower than expected quarterly earnings, if not losses), the company is also going to continue to lose hundreds of millions of Dollars as it attempts to stop the flow of oil into the gulf.

Despite the political pressure and the attacks by the news media, the Obama administration has attempted or maybe I should say managed to do nothing until now, and although this administration has failed on many levels, I suppose that it took a situation that is “too complicated” for the federal government “goons” that this administration was finally compelled to embrace a laissez-faire policy. The private sector will succeed where the federal government is not equipped to do so! This is a victory for free market capitalism!

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