People have learned from the massive oil spills that have occurred, most notably the famous Exxon spill in 1989, that environmental damage can be severe. It’s not just lost profits from the lost oil, but the cleanup costs and court costs are significant. This has led to more careful ship design and more attention paid to the ship drivers so that they aren’t as likely to crash.
Supposedly, technology and better practices were meant to limit if not eradicate oil spills completely, however as the current B.P. spill is proving, the methods employed by the industry are not foolproof.
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