Academic

REGULATORY FAIL: Govt. Required BP to Use Flawed Models In Cleanup Planning: ?The government model?

By Glenn Reynolds

REGULATORY FAIL: Govt. Required BP to Use Flawed Models In Cleanup Planning: “The government models, which oil companies are required to use but have not been updated since 2004, assumed that most of the oil would rapidly evaporate or get broken up by waves or weather. In the weeks since the Deepwater Horizon caught fire and sank, real life has proven these models, prepared by the Interior Department’s Mineral Management Service, wrong. . . . BP has come under heavy fire from Congress and environmental groups for its lack of readiness to handle a worst-case spill. But that criticism has overlooked a key fact: BP was required by federal regulators to base its preparations on Interior Department models that were last updated in 2004.”

Full post as published by Instapundit.com on June 24, 2010 (boomark / email).