How about a glass of deregulation..!!

[Dirty Penguin]

Shell Kulluk Ship Investigation Called For By House Democrats

"The recent grounding of Shell's Kulluk oil rig amplifies the risks of drilling in the Arctic," they said in a joint statement. "This is the latest in a series of alarming blunders, including the near-grounding of another of Shell's Arctic drilling rigs, the 47-year-old Noble Discoverer, in Dutch Harbor and the failure of its blowout containment dome, the Arctic Challenger, in lake-like conditions."

And speaking of the "Noble Discoverer"......



Noble Discoverer: Misfortune strikes again for Shell Oil rig returning from Arctic | Alaska Dispatch

Firefighters responded to calls of a fire at the U.S. Coast Guard docks at 10:22 a.m. Friday, where a plume of black smoke was seen coming off of a vessel, according to Unalaska Fire Chief Abner Hoage. As firefighters approached the docks they received reports that there had also been an explosion aboard the Noble Discoverer, Hoage said.

http://m.cbsnews.com/storysynopsis.rbml?pageType=cbsthismorning&catid=57562007&feed_id=30

(CBS News) CBS News has learned that the U.S. Coast Guard has called in their criminal investigators to probe potential violations of federal law involving the activities of a 572-foot oil drilling and exploration ship owned by the Noble corporation, and contracted by Royal Dutch Shell to search for oil in the arctic. Royal Dutch Shell owned the drilling rig, the Kulluk, that ran aground in rough Alaskan seas Monday. The revelation that another Noble ship working for Shell may have been operating with serious safety and pollution control problems bolstered allegations from environmental activists that the oil industry is unable to conduct safe oil drilling operations in the Arctic Ocean.

The Coast Guard conducted a routine marine safety inspection when Noble's Discoverer arrived at a Seward, Alaska port in late November. The inspection team found serious issues with the ship's safety management system and pollution control systems. The inspectors also listed more than a dozen "discrepancies" which, sources tell CBS News, led them to call in the Coast Guard Investigative Service (CGIS) to determine if there were violations of federal law.

Seems many of these companies don't have their safety act together....:sad:

 

[tumbleweed41]

But...isn't regulation bad for business?!?!?

 

[Revoltingest]

But...isn't regulation bad for business?!?!?

That would depend upon the individual regulation itself.
It can be useful when the standards save money overall, & allowing market freedom on an equal playing field.
It can be destructive when the cost exceeds the benefit, or when competition is restricted due to favoritism.

Examples:
Banking regulations which incentivized or outright required making high risk home loans created market instability
which led to the housing price crash in the mid oughts.
Auto safety & emission standards provide great benefit at little cost, & all makers compete in a free market (in the US).

As I see it, we need better regulation but less of it.
(That'll never happen.)