BP set to make $Trillion$

The blow-out in the Gulf of Mexico is the best thing to happen to BP in years.

Perhaps I'm a bit narrow in my perspective. This BP failure will increase profits for all the well drillers. Just look at the profits of Exxon after the Exxon Valdez fiasco.

Here is how it works. Screw-up and make a mess, all you have to do is raise prices to cover the clean-up costs. Tack a few extra cents on the price and increase the profits. The oil companies know we are addicts. We have to buy the petrolem products. These products include everything from gasoline to road tar to plastics and pharmaceuticals.

Now our most wise Congress is trying to raise the liability cap. Where do you think the oil companies will get the money to cover the increased liabilty? Uh duh, the consumer.

The consumer pays all the bills. We pay for the clean-up costs, we pay for the profits, we pay the shareholders and we pay for all the taxes.

All the oil companies will share in this windfall. We will see increased fuel costs and our Congress will gain substantially increased tax revenues on the profits we pay for. Well at least until the Ponzi scheme runs out.

I don't have any answers. If we cap profits, the oil industry will decline. We are addicts and we will get our fix at any price. If we raise the liability cap, we force the price of petro-chemical to even higher levels. Perhaps it is time to change corporate laws and make the shareholders foot the bill. But this will just transfer the costs to other investors/businesses who will raise their prices. We, as a nation, could seize the corporate assets within our country. But this just transfers the mess to us and puts the operational aspects of the business in the hands of the very same government that has a miserable history of balancing the books and gross mismanagement of almost every program they have ever created.

I don't see an answer. I'll admit I haven't a clue. I just wish Congress would fess-up and admit they haven't a clue either. But its an election year. Every incumbent will do everything they can to blow smoke and move the mirrors. Don'tcha know? Congress has all the answers.