I'm not sure where you come down on off-shore drilling, but if you think that it should be expanded, then I think that is an unfair position. I don't know if you are doing this, but I don't think it is fair to call for drilling to be allowed by companies, but then say that the government is the ultimate gatekeeper for anything bad that might happen. It can be argued that the government failed to regulate to the full extent necessary and it can also be argued that BP failed to practice due diligence in their design. My guess is that this is unprecedented and will result in a paradigm shift.
I am for expanded drilling. But I fail to see the purpose of all the regulation given this scenario. Again, I would imagine these companies jump through crazy hoops to be able to do this along with paying mega dollars. Inevitably BP will be required to pay for all this, so what useful role do all the federal agencies play in this?