If you play a par 4 with OB down the left side and you hook your shot OB the penalty is "stroke and distance".
If you play a par 4 with a pond down the left side and you hook your shot into the pond the penalty is "drop within a club length of where your ball crossed the hazard line and take a 1 stroke penalty."
WHY ?????
Why shouldn't OB be treated as a lateral hazard ? Speed up play and provide more "equity" to players of the course. Some courses have a lot of OB's and other courses have a lot of lateral water hazards. Why should they be treated differently.