Complete Regulatory Processes Discussion Repsonses To Classmates Posts, law homework help

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DISCUSSION 1:

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Regulation is directives that is created and upheld by an authority agency.  The authority agencies use regulation to control the actions of people by establishing policy or to influence behavior by telling you what you can or cannot do.  In essence, it is preventing you from engaging in a certain actions and pushing you towards a desired action.

In the case of the video entitled The Spill, there were obviously major oversights and shortcuts being performed by BP personnel that caused the death and injury of many people.  The Department of Interior was not deep enough in the processes and lacked the safety focused needed and hold BP accountable for their reckless actions.  From the video, there are limited penalties when an incident does occur.  BP had been allowed to show they made an effort to correct the problem, liability capped paid and approved to continue on with business as usual.  Totally lack of government regulation is of grave concern to our nation when big businesses feet are not held to the fire. 

The way I see this, the government is in the middle of a complicated and delicate position when it comes to regulation.  The government wants a strong economy and for businesses to thrive and grow.  They also want the people to be safe and to feel like the government has their best interest 24/7.  Government regulation may be a necessity to keep big business on track with addressing safety issues quickly and evaluating risk with a more stringent approach.  According to (Tully, 2015), the Obama administration is proposing a new regulation on offshore oil and gas drilling meant to prevent the kind of accident that caused the deadly explosion at BP’s Deepwater Horizon rig in the Gulf of Mexico. causing the largest oil spill in American history (Tully).

For the final paper, students must write a paper of at least
3500 words (in the text of the paper) on a topic related to the material
covered in the class.  The paper may take
one of two forms.  In all cases, the
paper should draw on at least 12 cited references.  At least 4 of these must be refereed
scholarly journal articles.  Only 6 of
these can be web sources (this restriction does not apply to the 4 scholarly
journal articles, which may come from journals now available on the web).  All citations must have a clear quotation
or paraphrase
of the specific information in the source.  It is not appropriate to insert a source
without some information from the source.

DISCUSSION 2:

In my opinion, we still need regulation to continuously inform society of social and economic do’s and don’ts.  They must know what is legal, how to meet certain requirements and timelines that must be adhered too.  Because when Congress enacts a Federal law, or statute, the laws often do not include all the details that explain how people, businesses, or government organizations should follow the law.  And with the many different laws being passed, regulation is an important aspect.  For example, Congress might pass a law making it illegal to break the speed limit; however, that doesn’t inform you on what’s the speed limit.  Therefore, the regulation provides the details a person would need to actually follow the law.  In addition, with the laws we have in place now, there are several people, businesses, organizations and institutions that are not in compliance causing devastating effect to society, such as bank fraud and corruption in politics.

DISCUSSION 3:

Why do we still need regulation?  Simply put, regulations that are enforced are one significant way to ensure industry best practices are followed, especially under extreme conditions like those present with the Deep Water Horizon explosion, loss of life and unprecedented/massive oil spill.  During the congressional hearings after the spill, the CEO’s of other offshore drilling companies were very clear to say they would not have followed the practices that British Petroleum (BP) followed in their decision making leading up to the disaster.  There were numerous well-established practices, which were industry standards for significantly less risky operations, that BP disregarded to save money.  During the subsequent Congressional Hearings, CEO’s of other drilling companies were clear in stating that they would not have followed the practices that BP employed.  It could be argued that these were BP’s competitors and for that reason they were biased against BP.  However, companies often come to each other’s aid, opposing the government if they think they will be unduly burdened with new costly regulations simply because one company made a mistake.

     Instead of continuing to cut corners in an already high risk operation, BP should have started from a position of caution, taking at least the minimum precautions for drilling in less extreme conditions, i.e. shallower water.  And their competitors, who were taking those precautions, were being penalized monetarily in the competition for cheaper oil.

     The problem was BP caved into the pressures and didn’t adequately assess the risks.  Additionally, the agency that was suppose to be overseeing their operations was conflicted in it’s priorities.  That agency was tasked with being aggressive in providing leases for new opportunities in offshore oil drilling.  And at the same time they were tasked with overseeing the safety and environmental compliance safeguards of the industry.  That was a conflict of interest ripe for trouble.  As a result of the spill and the subsequent Congressional Hearings, the original agency was split into two agencies, and dividing the regulatory oversight from the offshore leasing functions.  These actions fit what Rabin (1986, p. 1194) stated with respect to regulatory reform, i.e. that it is usually “driven either by narrow considerations of self-interest or spontaneous reactions to perceived crisis”.  The massive oil spill in the Gulf of Mexico was a crisis for not only the offshore oil industry, but also for all the industries dependent upon having a clean ocean in the Gulf.  In particular, the tourism and fishing industries were heavily impacted.  Shipping was impacted to a lesser extent, but there was still some impact as ships carrying goods had to be routed around many square miles of surface oil.

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