| Hi HN, author here. I wanted to address the most common theme in the comments: safety. The regulatory burdens I've encountered and described were not related to safety requirements. They are procedural questions with no bearing on safety. Whether an injection well is Class I disposal, Class II oilfield disposal or Class V experimental has no bearing on the (strong and reasonable) safety requirements to protect underground sources of drinking water... the problem is the delay that comes from deciding which class is most appropriate (turns out, Class V experimental). And ditto, whether a Revoy is a tractor, a trailer, or a converter dolly for the purposes of DMV registration paperwork has no bearing or relation to the (again strong and reasonable) NHTSA FMVSS safety requirements... the problem is the delay on the procedural paperwork. I think we can all agree that these procedural issues are not "written in blood", but are in fact regulatory bikeshedding that we'd all be better off without. |
Therefore, I think it’s fair that society wants to have a say in what gets done and what doesn’t.
Maybe a way around this would be companies operating without limited liability. Would you be willing to put your entire fortune on the line in exchange for a fast track through regulations?
Edit: to clarify: I’m not arguing that all companies should lose limited liability. I’m suggesting the introduction of a new type of company structure.