Deepwater Horizon -- Apportionment of Blame

The civil trial in the Deepwater Horizon accident is now in the hands of Judge Carl Barbier. The final arguments have been filed. The payment of claims has continued, despite a court-appointed claims settlement attorney suddenly resigning under allegations of misconduct. The judge will decide which of the three remaining defendants -- BP, Transocean, or Halliburton -- bears what share of the blame. And there is plenty of blame to share. The MSM meme, based on the "news" from the White House, is that BP was grossly negligent and bears full responsibility. They should pay the maximum fine of $4,300 per barrel for 4.9 million barrels of oil spilled. The eyes of state and federal government officials, of both parties, are alight at the prospect of billions of dollars in pork barrel spending, without a need to raise taxes. We shall see. But a word of caution: don't always believe what the White House tells you! Just to give you a taste of the unexpected, let us look at some of the...(Read Full Post)