Many have propagated the notion that the Gulf region oil spill is the result of a nonexistent unregulated free market.
BP met or exceeded every single federal regulation. As is always the case, regulations fail to protect property rights. Government regulations are about control and submission, not protection.
BP and the federal government realized all of the benefits of oil extraction and regulation. Because of a lack of property boundaries, the Gulf is now damaged for all.
Through favorable legislation from their politicians in Washington, BP may be excused from paying full restitution to the victims of the oil spill. Taxpayer-funded bailouts and protection through liability limits would not exist for corporations in a genuine free-market economy favored by Libertarians. This would have been enough for BP to ensure that every safeguard was in place for the prevention of a spill.
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RICK VANDEVEN, 724 Helen Ave., Chaffee, MO 63740
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