for the oil spill in the gulf. Well yes BP is the main reason but, the governement have decided after the Exon accident to limit the
liability to around 75 000 000. Maybe anyone can tell me why that was kept so low, the refineries earn Billions a year. So why
should they not be “fully” liable for such dangers. If they’d known that they have to pay dearly the probably have though about avoiding
such leaking. But well if you calculate with the above figure….
So the liability was put on the tax payers at a whole, but the profits were “privatized”… So again a nice example on what moral hazard really means….