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The BP spill is projected to cost over $40 billion to clean up, and the Exxon...

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General Management

The BP spill is projected to cost over $40 billion to clean up,and the Exxon Valdez tanker spill of decades past has rung up areported $4 billion tab. One would think that incident preventionshould be top priority with all proponents, that preventingincidents would be a key strategy to stay solvent. So why is itthat executive management and shareholders often dodge thezero-tolerance approach to environmental risk?

Are regulations limiting liability of firms encourage risktaking in drilling regulations, oil and gas fracking?

Does lowering of mileage limits promote environmental moralhazard?

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4.3 Ratings (651 Votes)
There is always a concept called Moral hazard that is involved in such cases It is said that an ounce of prevention is worth a pound of cure for environmental risk mitigation on major projects like BP This concept of moral hazard simply revolves around the fact that humans are more careless when they knew that they are protected but the consequence of the carelessness is borne by someone else So this postulates the fact that more the consequence is mitigated the more likely the subjects involved    See Answer
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