When good ideas go bad - or bad ideas get worse OR California's enormous disaster.
"You turn on the television and see this enormous disaster, you say to yourself, 'Why would we want to take on that kind of risk?'" California Governor Arnold Schwarzenegger at a news conference near Sacramento. No, the "enormous disaster" he was talking about wasn't his administration, it's the big oil spill in the Gulf of Mexico. But it wasn't a risk in 2008 when the governor signed a $100 million deal between some environmental groups and Plains Exploration & Production Co., known as PXP, that was estimated to bring the state some $100 million a year. Interesting. A hundred million made it a good idea - then. Imagine how he'd feel if he had never turned on the TV. But like a lot of things, risky endeavors were good ideas when the state needed money. Now that there has been an accident - and it's been on the TV - drilling for oil under the water is suddenly a bad idea, which it probably was all along. Now that we have seen (on TV)...