Regulators too close to oil industry

oil rigsThe Interior Department’s inspector general issued a report showing an all-to-cozy relationship between the department’s Minerals Management Service and the oil industry that it was supposed to be regulating.  Law Professor Tamar Frankel, author of “Trust and Honesty: America’s Business Culture at a Crossroad” and an authority on legal ethics, says the problem of regulators becoming captives is complex and there should be limits on how much they can accept in gifts from those they’re overseeing.

“There are many other effective ways to nip corruption in the bud.  The main point is to recognize that it is waiting in the shadows and to eliminate it before it starts festering and rotting the system.”

Contact Tamar Frankel, 617-353-3773, tfrankel@bu.edu

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