A political duty of care?

In Donoghue v Stevenson, Lord Atkinson eloquently set out the neighbour test:

"You must take reasonable care to avoid acts or omissions which you can reasonably foresee would be likely to injure your neighbour. Who, then, in law is my neighbour? The answer seems to be - persons who are so closely and directly affected by my act that I ought reasonably to have them in contemplation as being so affected when I am directing my mind to the acts or omissions which are called in question."

Should politicans owe a legally enforceable duty of care to its constituents? Arguably, yes. But realistically, never. One cannot expect lawmakers to commit political and legal suicide.

Perhaps this is good material for what I call "legal fiction"; laws that will never come to see the light on this planet - but that can blossom in the creative fields of our imagination.

Rig Types

To know more about the different breeds of rigs, the following site provides some comprehensive information:

http://hydrocarbonkid.blogspot.com/2008/04/offshore-drilling-rigs.html

Oil Rigs in Rio (CLICK ON PICTURE TO ENLARGE!)

Brazil Oil: New legislation update

Brazil’s President Luiz Inacio Lula da Silva has proposed new legislation aimed at governing the development of his country’s potentially enormous reserves of oil in the offshore presalt layer, about 270 km off Brazil. As the President put it: “The subsalt oil fields are a gift from God—wealth which, if properly managed, can drive major transformations in Brazil, improving living conditions for our people.” Lula also reiterated that Brazil does not want to be a “mere exporter of crude oil” and that the plan also aims to establish a powerful petrochemical industry to refine the oil into derivatives in order to export value-added products like gasoline. The development model, which must be ratified by Brazil’s Congress, includes: a new production-sharing system for contracts; a new public company for presalt contract agreement and administration; and a new social fund for investment in education and mitigating poverty in Brazil.

The new development model involves Brazil’s move from a concession model to a production-sharing system for the award of new contracts. Brazil’s Minister of Mines and Energy Edison Lobao said the proposed production-sharing system reflects a change in Brazil’s standing from an oil importer to a self-sufficient global energy producer.

The government's new model also includes the creation of a public company responsible for controlling and monitoring the cost of E&P of presalt and the administration of sharing contracts. This company will represent the country in the consortia and operating committees to be created for directly managing different sharing contracts and monitoring all activities in E&P. The presalt development model will establish a social fund that will set up a means to direct revenues from presalt exploration toward investment in poverty reduction, in education and in science and technology. The new social fund will take the form of a public savings account that receives income from various sources such as royalties, signature, bonuses, and commercial revenues from petroleum and gas, originated in production sharing, and resources from activities such as mining.

Incorpolis in Rio!

After writing numerous articles on Brazil oil from my squeaky chair in Oxford, Incorpolis is now in a position to write about the commodity, the market and industry in general. Expect pictures of oil rigs, pipes and ships soon!

Piracy and gobal redistribution of wealth

Piracy is undoubtedly a crime. That cannot be disputed. However, as Marcus Aurelius argued, "hunger is the mother of all crimes". Thus I ask: is piracy merely a manifestation of the unequal distribution of wealth in the world? Arguably, some pirates enjoy what they do: the thrill, the drama, the weapons. But if we look closer, we can see how it is simply mankind's struggle for economic equality. It is essentially an economic crime. And one cannot fight such crimes with use of force - what is needed is long-term regional economic reform.








INTERNATIONAL TRADE < < < <<<<<<<<<<<<<<

Piracy at Sea IV

As Incorpolis argued in "Piracy at Sea III", the solution to the Somali piracy problem entails reforming the political and social fabric of the country. Indeed, as Rear Adm Peter Hudson put it "piracy cannot be solved at sea...bringing stability in Somalia is crucial".

For more on this see:

http://news.bbc.co.uk/1/hi/world/africa/8115662.stm