the problem isn't always regulation. it's GOVERNMENT regulation. case in point. this rig had been cited by the bush admin for problems. but the obama admin had passed it with flying colors.
the deal is, even with regulations, someone is going to say "we don't have enough money to inspect". what do you bet????
Oh, I don't doubt it. Regulation is expensive. Deregulation is expensive, too. It's all about explicit costs vs. hidden costs. Right now we're seeing hidden costs come to light.
As for who does the regulation, I don't necessarily feel it *needs* to be the government. I just think it needs to be someone powerful enough to enforce, and can't be anyone who has a vested financial interest in the outcome. There just aren't a lot of players who fit the bill. Even the government is not really as neutral a party as we'd like to hope it would be, but I don't know who else can do it.
Sorry, btw, if my reply seemed a bit snarky, I'm used to being on the minority side of these sorts of things here. In reality I'm hopeful we may have found something we can agree on regardless of our political affiliations and candidates of choice - This shouldn't have happened. Something should be done to reduce the odds of it happening again.
-Charles