07 June 2010

About that BP Oil Spill

Let’s get a couple of things out of the way first. British Petroleum would not exist in a truly free market. Neither would most of the other corporate actors in this disaster.

If we had a true free market, including actual private property rights, nobody would be drilling in the Gulf of Mexico anyway. Remember the Arctic National Wildlife Refuge (ANWR)? We probably wouldn’t even be up to that with all of the oil and gas easily accessible in more hospitable locations, but blocked by government restrictions.

The fact of the matter is, BP is a creature of overregulation, rent-seeking (I know, redundant) and a host of other ills that socialistic government gives us.

As far as land use goes, the US federal government should not own anything the Constitution does not specify that it should own. Nothing like ANWR is provided for and all of that should be private property. Same with many of the other places that are federally owned and leased to others.

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