"The presidential panel investigating the 2010 oil spill in the Gulf of Mexico recommended on Tuesday that Congress approve substantial new spending and sweeping new regulations for offshore oil operations at a time when the appetite for both is low.

Releasing its final report, the commission found that the Deepwater Horizon explosion and subsequent oil spill arose from a preventable series of corporate and regulatory failures. It warned that unless industry practices and government regulation improved, another such accident was inevitable.

'If dramatic steps are not taken,' said Bob Graham, a former Democratic senator from Florida and a co-chairman of the commission, 'I’m afraid at some point in the coming years another failure will occur, and we will wonder why did the Congress, why did the administration, why did the industry allow this to happen again.'"

John M. Broder reports for the New York Times January 11, 2011.
[2]
SEE ALSO:

"Oil Spill Panel Calls for Tighter Federal Rules, New Fees for Drilling" (Washington Post) [3]

"Panel Calls For Tough Regulation After BP Spill" (Reuters)
[4]
"Oil Spill Panel Blames Lax Oversight, Poor Safety Standards" (McClatchy) [5]

"Spill Report Highlights Risks of Arctic Drilling" (AP) [6]