Tighter Utility Regulation

Here's something I've got to say, how is it that in a country as expansive and wealthy as the one I live in can have such lax laws governing utilities? I honestly don't get it, as recently as 10 or so years ago they've been cutting corners on safety and other areas to just to make an extra buck or 2. Here's an example of what I'm talking about with an article from Russia Today.