As in the case of the financial sector with it's foray into more and more leveraged products, the oil industry is leveraging it's technology to dangerous limits.
http://www.nytimes.com/2010/08/30/business/energy-environment/30deep.html?_r=1&th&emc=th
Leveraging involves the taking of risks by using methods vulnerable to catastrophe. For a while leveraging may work, but ultimately it is likely to produce the monster disasters like that witnessed in the Gulf, international banking and in the US property markets.
Firms leverage first because they can and they can do so without accounting for the full risks. Because returns are very high and can cover penalty payments when things go wrong, it is still attractive to leverage beyond present boundaries. Were the external costs properly assessed and those charged to the investors, it would not necessarily reduce the amount of leveraging because of the second factor which is that those that leverage are playing with other peoples money. Accountability is secondary!
Will ye no think kindly on those who would be your friends! May the sun shine with your thoughts, today, and happiness grow in your heart! May you allow yourself some peace of mind.