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Tag Archives: BP

The Economics of Safety and Security

– One of the most horrifying comments through the entire Japanese mega-catastrophe was that by CNBC anchor Larry Kudlow, as reported in a March 20, 2011 New York Times article by Jeff Sommer with the title: “A Crisis That Markets Can’t Grasp – As Japan’s Disaster Evolves, Wall Street Keeps…

Are Risk Models or Data to Blame? Yes!

– On the front page of the June 24, 2010 issue of The Wall Street Journal there is an article by Neil King Jr. and Keith Johnson with the title “BP Relied on Faulty U.S. Data.” When you turn the page (note that I’m reading the actual physical newspaper, not an electronic version, so I actually…

Cyber Lessons Learned from the Gulf Oil Catastrophe

– If there is one resounding lesson from the Gulf oil disaster, it is that depending on the private sector to protect one’s Nation and one’s natural resources doesn’t work. Various reports seem to indicate that BP is vetting all activities based on its own potential cost and not on the social…

Where Oh Where is (Cyber) Red Adair?

– Many readers probably do not remember “Red” Adair. He was the go-to guy whom you called as a last resort to cap a blazing or gushing oil well, either on land or offshore. In April 1977 he capped a well in the North Sea that was the second largest leak of the time, and he […] …