There is no question, of course, that the BP oil company, based in Britain, should bear the full financial responsibility for trying to overcome, as much as possible, the tremendous economic damage to countless innocent parties who have suffered, and continue to suffer, as a result of the catastrophic April 20 blowout of a BP oil well nearly a mile deep in the Gulf of Mexico.
Louisiana, Mississippi, Alabama and Florida are immediately affected, but bad effects will go much farther.
How do we assure quick BP responsibility?
Nobody wants any legitimate damage claims to be delayed. And no one wants BP to “go broke” under claims so huge that the company would collapse financially, and leave victims holding empty bags.
So how do we achieve responsible balance?