Imagine you're head of a company whose stock in trade is mining one of the world's most valuable resources. You've just struck a rich new cache. The potential for profit is huge. Then, all of a sudden, disaster strikes. Maybe your equipment failed. Maybe your technology had some unforeseen flaw. Maybe it was human error. Whatever the cause, in an instant that promising new profit center has become a liability, and what was once a valuable commodity has become a dangerous contaminant, gushing out of your control at an alarming rate. The collateral damage will be huge, and the effects of the leak will linger for years to come.
It's a nightmare scenario to keep oil executives up at night, particularly in the wake of the April 20 explosion at BP's Deepwater Horizon platform in the Gulf of Mexico. BP has yet to gain control of that underwater gusher, and the eventual cost -- in terms both economic and environmental -- is incalculable.