Guvmint will make sure BP pays... But to who? Guvmint, of course.

Prediction:

I’ll bet yer (ahem) that bad public sentiment will spawn a favorable outlook on new taxes industry-wide — intitially to make up for BP’s inability to cover all the liabilities involved.

They'll call it a "risk tax', or some sort. As if we can afford more risk like this.

But don't you wonder, given the Guvmint's record on robbing Peter to pay Paul, and then mugging Peter's children too, how much of that revenue will actually be used for the vocalized purpose? Or will the majority of the tax/ongoing fine be arbitrarily apportioned to prop up public works and pump up the balance sheet of the general budget?

Watch: If Guvmint gets its paws on more funds/fines because of this, it won’t go where needed…

Do I believe that BP et al should pay out the nose (Heck, just cut the nose off.)? Sure. But putting BP out of business won't solve anything; and I am sure that will be another argument used for an industry-wide tax/ongoing fine.