The angry speech made by Obama this afternoon on the Gulf oil spill marks a turning point in the Governments relationship with the oil industry. Obama lashed out at the ‘ridiculous spectacle’ of Oil executives passing the buck on responsibility for the disaster and called for ‘top to bottom reform of the mineral managements service’. The agency will be divided so that inspection and safety department will be independent of the part that collects royalties and hands out permits so that there will be ‘no conflicts of interest, real or perceived’. Despite the awful mess, this marks a huge opportunity for the Federal government to regulate the industry and hopefully prevent disasters of this scale from happening again:
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.