Regulation vs. Capitalism

This event in Crosby, Tx with the Arkema chemical plant offers another opportunity to understand the basis of our regulatory environment here in the United States.

If we listen to the Capitalists, we are led to believe that their efforts are being crushed beneath the burdensome regulations coming from Government at every level. They just can’t catch a break and their only way to survive usually involves laying off employees in an attempt to keep the books balanced.

If we listen to the regulatory proponents, we are led to believe that their well-being is threatened by the desire for profit over anything else. If we don’t regulate their business they will put us in danger.

The Arkema CEO says they had backup systems for backup systems and the plant still could not keep the dangerous chemicals safe when Harvey flooded the area.

Let’s back that truck up just a bit.

Are we supposed to believe that Crosby, Tx has never seen a Hurricane before? Has there never been flooding in the Houston area until now? Is the plant located inside the 100-year floodplain? Could the chemicals have been stored higher above ground? – above the 100-year floodplain? What about the backup systems – could they have been placed higher so that they would have been less vulnerable to flood waters?

Ok, I get it, I am Monday morning quarterbacking the situation, but let me ask you to consider whether or not these questions could (or should) have been asked and answered when the plant was build or before Harvey made landfall?

The Sausage Grinder is Broken, will you help to fix it?

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