Extractive Industries Are Incapable of Restraint

By Jake Greear For three months Americans have watched an ecological disaster unfold in the Gulf of Mexico in excruciating slow motion. A mixture of outrage, fear, suspicion, helplessness, and uncertainty has naturally led to a lot of scapegoating. The public and many media figures have alternately heaped scorn on President Obama, Mr. Hayward, and even Admiral Allen. And the same ire has been directed toward the less personified entities of BP, “the administration,” and occasionally Haliburton. No doubt there is enough blame to go around, but to concentrate on specific instances of incompetence and negligence is to miss the point. The spill shows that we have a problem, but the solution is not more competent, less selfish, or less neglectful people at the heads of corporations and governments. In fact, when it comes to extractive industries, a really good corporate executive—one who selflessly, boldly, and competently pursues the interests of the shareholders—is often the worst thing that could happen to the communities that have the misfortune of living in the vicinity of coal or oil reserves. A good executive will find inventive ways around the rules, count on forgiveness rather than permission, take chances, and stop at nothing. We […]

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