of the regulatory process. Similarly, the lack of adequate, previously planned capping and containment techniques evidences a failure to envision an incident of the type or magnitude experienced at Macondo.
Today, industry and the regulators are both stating their good intentions. Industry is investing significant resources in capping and containment systems, and regulators are making significant organizational and process changes. The question remains as to whether these efforts are a start toward recognition, acceptance, and active management of the risks inherent in offshore oil and gas development or whether they represent a transitory response. For the sake of those who work offshore, those who live near the Gulf of Mexico, and all those dependent on the U.S. economy, the committee fervently hopes that these efforts are sustained.