What Happened at the Macondo Well?

The anniversary of the largest oil spill in American history passed with little notice this summer. Yet the reports of the past year and anniversary-themed books on the disaster provide a trove of data that reveals how the oil and gas industry is as reckless and unaccountable as the too-big-to-fail banks that brought on the financial crisis of 2008. The BP disaster revealed the same problems—lax government regulation, corporate profits despite the risks, a fawning press—that characterized the financial meltdown. Big banks and big oil have more in common than their size.

This article is available to subscribers only.
Please choose from one of the options below to access this article:

If you already have one of these subscriptions, please be sure you are logged in to your nybooks.com account. If you subscribe to the print edition, you may also need to link your web site account to your print subscription. Click here to link your account services.