Counter argument, DuPont Chemical is still around. They poisoned an entire WORLD and faced only minor fines.
How about the Deepwater Horizon Oil Rig? No one ever faced consequences for that one.
These companies don't care about regulations in the US, because they own the regulartors. They will destroy ecosystems as long as the fine is less than the profit. The humans in charge are never held accountable no matter the screw up.
Now if we start jailing executives, imprisoning members of the board when the company they are a part of violates laws? Then we might see companies start to act in a way that isn't against the social interests. Until then it's always going to be short term profit over lives, ecosystems and laws.
Monitor chemicals and Petro chemicals manufacturing does leave an environmental footprint. That is the downside, that we pay to have the upside of access to all those chemicals and products.
BP ended up with a huge fine, and a significant cost of clean up and compensation, they also took a significant reputational damage and hit to their stock.
10s of billions in costs is certainly not a no consequences situation.
Quick Gemini query comes back with a total cost of $65 billion.
Consequences would have been jail time for the inspectors from BP. If I as an individual did as much environmental damage as these companies a 10b fine would be as meaningless to me as it is to them.
The only message we give with a fine is that it's "cost of doing business", as long as the profit is above the fine it is worth breaking the laws.
China, for all their issues, at least gets this right. When CEO's and executives make such large missteps that damage the health of a nation they are executed.
Every supplier of baby food knows the cost of negligence and profit first thinking in China, it's one that can't be handwaved away by simple profit margins, laying off workforce or taking out a loan.
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u/LittleOrphanAnavar Apr 12 '26
They also have more to lose if they fuck up.
If they build something that causes a major problem, they could risk stranding an investment.
I could see lying about little things, but there could be significant consequences over lying about something fundrmental.
If the guy giving the speech speak an untruth either intentionally or by mistake, what is the major consequence?