A number of important safety reforms have been prompted by disasters such as the Exxon Valdez spill and the Bhopal leak. Some of these are technical fixes, such as building more durable ships, better plants, and safer railroad cars. But replacing old technologies takes time and money, and unsafe clunkers still ply water and rail. Regulations have also sought to address issues relating to work rules and employee training. Fines and penalties have been increased for unsafe practices, giving teeth to regulations and laws. The environment has become its own industry, with companies offering solutions for anyone willing to invest.

Programs in the United States such as the federal Oil Spill Liability Trust Fund go beyond cracking the whip, offering help to industries and increasing their stake in spill prevention. In 1985 the EPA created its Chemical Emergency Preparedness program to...