The problem is sometimes the lessoned learned is don’t be responsible.

So no longer own oil tankers and instead each ship is owned by its own LLC so just that piece goes down and the liability gets capped to its insurance contract.

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jacquesm 21 hours ago | parent [-]

Externalization at its finest. Pocket the profits and let the world deal with the trash. I absolutely hate these people.

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kortilla 19 hours ago | parent [-]

“A made up scenario, I am outraged!”

Do you know that BP wasn’t the company that spilled? LLCs don’t let you shirk responsibility like that.

	▲	jacquesm 9 hours ago \| parent \| next [-]
		I think you are still on the Deepwater Horizon thing, a judge had this to say about that. "In September 2014, a US district court judge ruled that BP was primarily responsible for the oil spill because of its gross negligence and reckless conduct." But my comment was related to parties that break their empire into little bits to avoid responsibility. And yes, the corporate veil can be pierced. No, that happens so rarely that it hardly matters.
	▲	lesuorac 12 hours ago \| parent \| prev [-]
		Deepwater Horizon isn’t a ship. https://en.wikipedia.org/wiki/Exxon_Valdez_oil_spill But the effect is that oil companies just manage the logistics of the ships and don’t own/operate them themselves. Ex. BP founded an entity to manage all the ships they were acquiring and later sold all the ships off to avoid liability. https://en.wikipedia.org/wiki/BP_Shipping