Pipeline Twist
What do libertarians think should be done to prevent future oil spills?
Libertarian theory holds that people will not buy BP after a disaster like this, since according to the company at some moral level environmental. But there are several twists: 1. BP operates pipelines that provide gas and oil all over the world 2. BP has many subsidiaries that the average person would not realize are related to BP 3. If BP cut prices to recover from PR damage that would attract many return customers Based on these facts, libertarians believe that government is justified in regulating this industry?
For property rights are above libertarians. Seeing that this spill has damaged a large amount of property (public and private) that will impact severe financial (cleaning / damages), as expected. Such risk may be too large for some companies to manage, so regular self. As for government regulation, this may be permissible in libertarian ideology. After all, they are surrounded by the ocean that is not theirs. May be justified the risk to other property is too large, and precautions can be taken.
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