That's a different matter, that's an unpriced externality, were the oil company required to pay to sort the water out didn't choose because they weren't forced to.
So the oil should be economically unviable but due to poor regulation, they were able to extract it.
That’s just a cop out. There are externalities to everything and they are never completely accounted for. So by definition only looking at “economic viability” is a failed experiment as I posited from the get go.
We make decisions based on objective reality, not a perfect theory in a lab.
Comments
That's a different matter, that's an unpriced externality, were the oil company required to pay to sort the water out didn't choose because they weren't forced to.
So the oil should be economically unviable but due to poor regulation, they were able to extract it.
That’s just a cop out. There are externalities to everything and they are never completely accounted for. So by definition only looking at “economic viability” is a failed experiment as I posited from the get go.
We make decisions based on objective reality, not a perfect theory in a lab.