David Lindorff @ Common Dreams - British Petroleum had a fail-safe system for it's Deepwater Horizon floating deep-water drilling rig.
You know, the one that blew up and sank in the Gulf of Mexico, leaving a tangled spaghetti pile of 22-inch steel pipe one mile long all balled up on the sea floor a mile below the surface, and that is leaking oil at 42,000 gallons per day...so far.
The thing is, the fail-safe system, about the size of a McMansion sitting at the wellhead on the ocean floor, um, failed. It didn't collapse and shut off the flow of oil as intended, and it could take months now to shut the well down--during which time the leak rate is likely to increase to up to 300,000 gallons per day, or over two million gallons a week.
President Obama claimed last month that off-shore drilling technology had become so advanced that oil spills and blowouts were a thing of the past. Read more.