Walter Banks wrote:
>> We don't need more regulation or oversight, we need more direct
>> responsibility. Private ownership combined with unlimited liability
>> (regardless of the cause of the accident), would provide the proper
>> incentives to locate, design, build, protect, and operate the power
>> plant in the safest possible manner. And get us electricity almost
>> too cheap to meter. :)
>
> This replaces all regulations with a single regulation. It assumes
> that the innovative companies have enough assets to meet the
> potential liabilities. The fundamental problem is the assets that
> they own in most cases would be the same asset that fails reducing
> it value at the time when its value is most needed.

AFAIK, assets are rarely used as collateral against liability, most=20
companies have liability insurance.


> Over regulation is not the solution either for arguments that you
> just outlined.
>
> In the case of electricity distribution has become a significant
> component to the costs. There was a push in Canada to create small
> community sized reactors (SLOWPOKE-3) to power northern communities.

The power grid is well developed here in the US. Just disconnect the old=20
polluting coal fired plants, and connect nuclear ones in their place.


> The automotive industry is a combination between regulation, formal
> reporting and innovation. Most US agencies require that reporting
> be certified by the company either directly or through independent
> companies. The penalties for fraud are quite high.
>
> Liability laws don't always help.

I am against liability laws. There should be no limits on liability. You=20
cause $100bn of harm, you pay $100bn.


> About 20 years ago US automotive
> companies were spending about half their engineering budgets
> documenting their efforts to be able to demonstrate that they had
> made reasonable safety considerations in engineering their
> products. The Japanese companies were spending about 95% of there
> engineering budgets on engineering. Who's customers were better
> served? Only recently has this become debatable after Toyota.

"Debatable" is an understatement.

Vitaliy

--=20
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