Writer: Paul Krugman in The New York Times

Commentary

Sex & Drugs & the Spill

“Obama’s Katrina”: that was the line from some pundits and news sources, as they tried to blame the current administration for the gulf oil spill. It was nonsense, of course. Yet there is a common thread running through Katrina and the gulf spill — namely, the collapse in government competence and effectiveness that took place during the Bush years. The full story of the Deepwater Horizon blowout is still emerging. But it’s already obvious both that BP failed to take adequate precautions, and that federal regulators made no effort to ensure that such precautions were taken.