From libertarian Michael A. LaFerrara:
“Drilling for oil is a risk-reward proposition — all of the risk is put on the backs of our shore communities, and all of the reward goes to Big Oil.”
This is patently untrue.
The oil companies obviously take risks in spending $billions with no guarantee of success. They are also responsible for cleaning up their messes, and must spend $billions should an accident occur. They and their employees can even be held criminally liable through criminal neglect laws. Just ask BP.
We should be thankful for the oil companies’ “insatiable thirst for more profit.” That’s a good thing.