It is just so sad, what is happening in the gulf. There has been so much in the media about the DeepWater Horizon gusher, I don't understand why the "drill, baby, drill" segment has only dropped by 22 percent. I got to thinking about the Tony Hayward quote, "What would you do if you couldn't fail?" Where has the moral hazard gone? In finance, moral hazard has been removed by bailouts and "too big to fail." It looks the same in the gulf—no one is being charged with negligence. It is all going to come true, lives have been changed, there is no going back, no "do-overs." I suppose it isn't proper to blame American consumers, for their appetite for oil in all its forms. Yet each of we, myself, included should share some of the blame, feel guilty for driving that SUV, taking that gas-guzzling trip to Yellowstone. It is just so sad, we are soiling our nest, and don't even realize it... it is so sad, I want to cry.
Jul 3 2010 - 4:43pm