There are extensive regulations on how oil companies are allowed to drill, consisting of where, how deep, and what safety regulations are needed to be observed. The problem (and why the BP oil spill was allowed to happen, for instance) is that those regulations haven’t been enforced. Proper inspections, for example, didn’t happen for years at the Deepwater Horizon platform, meaning that no one knew that the safety precautions that were supposed to occur if something went wrong at the platform wouldn’t work. The Obama administration has declared that regulations will be observed much more strictly from now on, however
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