2 Lessons for oil industry from aeronautic industry on risk management....
Risk is an non avoidable, elusive, and ultimately unconquerable, opponent. And there's a strong argument to be made, looking at the disaster in the recent times, (i.e. gulf oil leak) that perhaps we shouldn't be opening up the earth in places too remote to close it up again. But in any event, the oil industry would do well to take two lessons from the aeronautics community.
1st: anything mechanical can and will break -- and that includes back-up systems. Count on it, and
2nd: expect the unexpected. And plan accordingly.
Risk is an non avoidable, elusive, and ultimately unconquerable, opponent. And there's a strong argument to be made, looking at the disaster in the recent times, (i.e. gulf oil leak) that perhaps we shouldn't be opening up the earth in places too remote to close it up again. But in any event, the oil industry would do well to take two lessons from the aeronautics community.
1st: anything mechanical can and will break -- and that includes back-up systems. Count on it, and
2nd: expect the unexpected. And plan accordingly.
