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Many of the stricken yachts had been designed to comply with the then-new International Offshore Rule (IOR), which encouraged boats that were fat in the middle and carried their ballast up high, close to the waterline.
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"Singapore is tightening offshore rules, but it will continue to be a very attractive place for family and investment offices," said David Bain, Campden Wealth's head of research.
But the Cyprus crisis has shown that the Russian elite's strategy of offshoring the rule of law, rather than building it at home, has its risks, too.
Mr. Stanford and his firm have emerged as recent contributors to various American lawmakers, focusing particularly on legislators considering bills that could change offshore banking rules.
Second, Chevron produced 260,000 barrels of oil and natural gas per day from the Gulf of Mexico, so preventing Congress from reforming offshore drilling rules in the wake of the BP disaster will be key.
The issues involved in this strike — preserving jobs that let workers comfortably support a family, offshoring, work rules — are just as pressing as they ever were, but there are markedly fewer union workers left in the private sector to stand for them.
Republicans in Congress have blocked any new rules for offshore drilling and new spending for regulation and have not acted on proposals to raise the liability cap.
Under his logic, we didn't need rules limiting offshore drilling before the Deepwater Horizon oil spill, or rules protecting consumers from predatory actions by Wall Street bankers before the 2007 financial meltdown because no problems existed before those disasters.
OFFSHORE OIL RIGS Proposed rule, June 2009 Oil rigs would be required to develop safety plans — examining items like mechanical equipment and operating procedures — and the rigs would be audited at least once every three years to ensure compliance.
There will be more offshore drilling, but the rules of the game have now changed.
The reversal came after Australia's High Court ruled that offshore processing of refugees was unlawful.
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