re: #389 Bagua

Who will drill with that sort of risk? The whole idea behind the $75 million cap was to encourage the producers to drill for oil in America. If you are happy with buying the oil from foreign, then go join in the blood sport.

One would think that drillers will drill wherever there happens to be oil, and wherever they can get the best tax break. It’s not like another business where one strip mall is much the same as another strip mall, neighbourhood notwithstanding. And given that spills from drilling have been so rare that apparently nobody has ever thought of a way to stop one if it happened, the risk of a payout from a very rare event would seem to factor much lower than other criteria such as taxes and presence of oil.