Six lessons from the BP oil spill
In a Christian Science Monitor article Professor Matt Kahn talks about what the tragedy of the BP oil spill has taught us about regulations, technology, and how our energy diet must change.
For years to come, the United States and the oil industry will be absorbing the lessons of the BP spill in the Gulf of Mexico. Regulators will toughen inspections. Oil companies will adopt more rigorous safeguards. New cleanup technologies will emerge from university and corporate laboratories. And spill drills could become a regular part of coastal communities' emergency planning.
"A tax would encourage conservation and efficiency, reduce emissions, and spur the search for alternatives. The extra revenue from the tax could be used to fund that research, reduce the deficit, or be rebated back to consumers in the form of, say, a lower income tax. But passing a new tax, never easy, is especially difficult when the economy is so fragile. "Democrats clearly view that as suicide," says Matthew Kahn, economics professor at the University of California at Los Angeles.
To read the full article by Laurent Belsie click here.
Published: Wednesday, July 14, 2010