Source: Iran
For instance McLaren company has a couple thousand kegal entities sprincled around the world, and its is a relatively recent phenomena
The Safer has sat off our [Yemen] coast, abandoned and rapidly decaying, for the last five years. Our government-in-exile ... claims ownership of the vessel."
The Safer has sat off our coast, abandoned and rapidly decaying, for the last five years. Our official government-in-exile, led by the useless President Abdrabbuh Mansur Hadi, claims ownership of the vessel but is squabbling with the Houthis over who gets its load of rapidly degrading crude, estimated to be worth $30m. To make matters worse, Donald Trump is thinking of officially declaring the Houthis as terrorists, just as they were on the verge of allowing UN access to the ship.
(This was from PE No. 1537, cover date 18 December 2020.)
My personal wild guess: nothing will happen, the ship will break apart, no one will dare and try to contain it for fear of getting targeted by someone's warship or drone, and only the nations who can afford it will clean up their coasts.
Realistically the only one who could do this is the US. But the US may not want to fight the Houthi, which would probably be necessary.
If a major food supply fails in the Middle East, we might see another mass-migration like that driven by the Syrian conflict.
Whether we like it or not, everything today is global.
https://www.thedrive.com/the-war-zone/5497/us-destroyer-atta...
Every thing has a cost. Everything. Its very simple calculus really. What will be the short-term, medium-term, and long-term damage in dollars and lives of allowing this ship to break apart?
What will be the equivalent of using military action - if necessary?
Either decision will cost dollars. Either decision will cost lives. We either pay up front, or we pay down the road, but we will pay. We need to determine the cheaper cost and steel ourselves to pay it.
It’s a science website not a political one
Isn’t that exactly what the legal system is for?
A sadly common motif through, particularly on HN.
> To refine my initial point: there will be many horrific costs to this mess. Some poor sod will end up paying the cost. If owners think they can escape full liability, they will continue to take risks because they can privatize the profit and socialize the costs.
Thank you for elaborating, I entirely concur with the sentiment of the above, even if we differ on terminology.
To refine my original my point too, please consider it a comment on the unfortunate connotations of using the term 'balance sheet' for this concept - without further information, it's unclear if it's being used in a purely business financial context or not.