Deepwater Horizon

Transocean continues to innovate to avoid taxes everywhere; forming tax-favored Master Limited Partnership

Transocean owns operates complex offshore oil rigs, including the one that blew out in the Gulf of Mexico back in 2012, killing 11 workers and despoiling the Gulf of Mexico.  There do not appear to be any similar lapses in its continued effort to push its taxes down as close to zero as possible, however.

Liability reform and oil spills: Drawing the wrong lessons from Price-Anderson

The Deepwater Horizon oil spill clearly demonstrated that really bad accidents -- the ones that the industry (and too often the government as well) say never happen -- do actually happen sometimes.  Not merely a figment of some pointy-headed actuary, these low probability but very large damage events really do need to be built into government policy. 

Fortune Magazine oil spill liability primer

Fortune Magazine's Roger Parloff, with assistence from insurance specialist Christopher Kende, provides a good rundown on liability for the Deepwater Horizon oil spill in the Gulf.  One important thing I took away from this review, though not explicitly mentioned in the article: even though accidents are an inevitable part of trying to do very difficult things, the liability rules to address damages remain (a) fiendishly complex and the domain of specialized experts; and (b) are full of gray areas such that many

Subscribe to Deepwater Horizon