In short, no, I do not believe that it can. It will be interesting to see where we are in five years.
The economy is not the most important thing in this situation…I just want to make that clear. I have spent days and days reading all about this disaster. The sadness I feel is over the loss of life involved. In the simplest form, human greed has poisoned our planet. This is the most important issue at hand. However, what will the long term economic affects be in already unstable world economy?
This disaster is multi faceted. On one hand, we must do absolutely everything to save and preserve all life in the gulf that has been threatened. No expense should be spared. We owe our planet that. We owe our children that. However, I am a little concerned about who will ultimately pick up the tab for this “mistake”.
When I hear my President say that BP (British Petroleum) will pay for all costs involved, I can’t help but laugh. Laugh hysterically, actually, because it is the only thing about this that is funny. What kind of moron would believe that the company responsible for the accident has the ability to clean this up properly? And they are gonna pay for it? Sure, whatever you say. They may pay for the actual clean up…but what about the industries, lives, home values and future incomes that have just been obliterated? Is BP going to pick up the tab for that? I don’t think so.
Once again, the average American will pay the price. We will pay the price in many ways, for many years. Does this affect BP? Heck no! Sure, people may hate them and they may go bankrupt, but I’m pretty sure it will be business as usual otherwise. Will wealthy people pay the price? Heck no! If they are affected in any way they can pack up and move. Who does that leave? The middle class, the working poor and the welfare class. Only one of those groups pays taxes and fully supports themselves with no government assistance available.
Where am I going with this? Cap and Trade? Maybe. I’m really not sure. The only thing I’m sure of is that once again, the middle will pay for this. Can they handle this burden? I do not think so.
My other articles and coverage of the Gulf oil disaster from day 1 (newest to oldest):
Image by futureatlas.com via Flickr