Companies self-regulate just fine, without any rule of law, like they do in Nigeria:
Some of the results are “horrifying” and “unprecedented,” Brown says. The wells serving at least 10 Ogoni communities, for instance, have unsafe levels of hydrocarbons; one well had levels of benzene, a known carcinogen, that were 900 times greater than those deemed safe by the World Health Organization. In some areas, the researchers measured 8 centimeters of oil floating on top of groundwater and oil-soaked soils 5 meters deep. “Areas which appear unaffected at the surface are in reality severely contaminated underground,” the report concluded. In one bit of good news, the researchers concluded that spilled oil had not tainted local fish, a major source of protein, although it had ruined numerous fish farms.