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Environmental insurance.

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posted on Oct, 11 2012 @ 08:11 AM
It seems to me that the government should require a larger insurance policy for gas, oil, and mining industries to adequately cover any cleanup that can occur from these activities. The Insurance industry can then put in strict prerequisites for these activities. When the disaster in the gulf happened I became aware that there was little mandated insurance coverage for the disaster, I am happy that BP did allow extra money for the cleanup. The Oil companies could form their own shared emergency "ambulance" service by cooperating and regulating themselves. The governments around the world would have to push for minimum standards and insurance limits that were adequate as a community of nations.

The things in the past are in the past and we have to learn from them. We have many toxic sites to clean up, some of which are so intensive that nothing can be done. These sites our government needs to address in an adequate way, this article is just putting the responsibility of future and ongoing future activities so they don't need to be addressed with no funding in the future. We cannot keep polluting as we have in the past. We cannot allow no or little regulations because "it is good for the economy of an area". I see mining going on here and some mining operations are not so bad while others are very risky. We need the ores but we also need to have something in place to repair the environment when we are done. Presently that is not being addressed properly. If the company goes bankrupt than the people get stuck with the cleanup tab. To push things off to future generations is not good.

I grew Up in Hancock MI. A big old mining area. The damage done cannot be fixed, it is way too expensive. Another hundred years and it will have healed. The copper in the water from the tailings is a problem there. This could have been avoided with a little more regulation and research from an organization not involved in mining. The original corporations went bankrupt, a regular practice so their liability was destroyed. The government then eats the cleanup costs. I have researched a lot of bankrupt companies, with the old people running them making million and going on to other business interests with plenty of money at the time. This was a flaw in our laws with the same flaw still existing. A real and reputable insurance company needs to be involved.

I know mining is invasive to the environment but we do need metals as do we need coal and oil products. I am just thinking we need to close the loopholes that exist, one of which is a corporations managers being able to avoid personal losses by their deceptive actions. I hate over regulation also, but this basic issue must be addressed. The fracking is destroying some of the groundwater in the country and good water is the most important thing we have.

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