In today’s WSJ:
Last week, I attended the memorial service for the 11 men who died aboard the Transocean Deepwater Horizon on April 20. It was both a shattering moment and a vivid reminder of the duty that a manager owes to ensure that team members safely return home to their families.
Americans and others from around the world rightly are asking many questions. How could this happen? How damaging is the spill to the environment? Why have efforts to stop the flow of oil and gas into the Gulf so far failed?
And they are asking questions that have broader implications. Has the industry and the regulatory system governing it been taking unacceptable risks in our work on the geological and technological frontiers? Can we as a society explore for oil and gas in safer and more reliable ways?
The industry and the government did not anticipate this type of accident—one in which all the “failsafe” mechanisms failed. When it happened, we immediately brought the global resources of BP to bear on the dual challenge of stopping a blown-out oil well at a depth no human could reach while at the same time seeking to contain the resulting flow of oil and gas.
The rest here.
Actually, as we posted earlier, the industry did know about issues with “failsafe” mechanisms.