Plant Safety and Optimism Bias

Today, for the second time in the past several months, the New York Times published an editorial calling for a "tough chemical plant safety bill." The paper correctly points out that chemical plants are uniquely vulnerable to terrorism and could be on the receiving end of a catastrophic attack. In spite of this, industry has lobbied against some of the tougher proposed rules, the paper notes. Should this be the case, industry's opposition to the toughest safety measures is perplexing. Employees of chemical companies are, obviously, especially vulnerable...

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