Bp Oil Spill Case Study

This paper includes information regarding the BP Oil spill. References are listed at the bottom.

The spectrums of oil spill issues are diverse and large. They range from environmental issue to economic, ecological, ethical, politics and policies. Among many other oil spills, the BP oil spill in the Gulf of Mexico, occurred on April 20, 2010 was recorded as the greatest environmental disaster in our history (BP leak the world's worst accidental oil spill, 2010).

As Drew Griffin states “The federal government estimated 4.2 million barrels of oil spilled into the Gulf, but BP argued in court that it was much lower. A judge ruled BP was responsible for the release of 3.1 million barrels. (Griffin, 2015) Regardless of the amount look what damage it has done and the many lives that are affected by this disaster. Many say for 87 days in a row due to an uncapped wellhead lead to this disaster. The loss of money, family seafood business, town tourist revenue, were affected by the oil spill. As Allbusiness eidotors states “For Voisin and other fishermen, the spill couldn’t have come at a worse time. “Processing plants are idle and we are in middle of spring larval season,”

The Deepwater Horizon Oil Spill occurred on April 20, 2010 in the Gulf of Mexico. This oil spill was the largest spill in history in front of the Exxon Valdez oil spill of 1989. This oil spill released about 4.9 million barrels of oil into the ocean. This spill not only wreck havoc on the marine life but also the economic players that depended on ocean such as fisherman, tourism, and offshore drilling located along the gulf coast. Along will the spill the oil rig which was named Deepwater Horizon also went up in flames. This proved that the issue went far beyond just an oil rig that blew a line. Since this oil spill had drastic impacts all along the coast, BP which was the most liable for this incident faced criminal charges based on what happened. BP which knew the risks of deep ocean drilling failed to take the necessary safety procedures to reduce the risks of such incident occurring, thus was the reasoning behind placing most of the fault on them and not the other companies. The lack of regulatory oversight led to the issues and cost-cutting procedures opened the rig up to possible malfunctions like the one that occurred. During the spill into the gulf, BP sealed the well with cement which seemed to stop a majority of the oil from escaping the well. BP also recognized that the well was “dead” which was proven wrong when scientists still could conclude was leaking minor amounts of oil into the ocean. This spill not only proved to be harmful to the environment but also

As the National Commission report put it: “The immediate causes of the Macondo well blowout can be

The BP Gulf of Mexico oil spill tells the tragic story of what happened on the Deepwater Horizon drilling rig back in April 2010. The rig, leased from another vendor, was digging a well on the Macondo slope in the Gulf when it exploded and fatally killed eleven employees and injured seventeen others (Crandall, Parnell, & Spillan, 2014). Not to mention, five million barrels of oil spilled into the sea causing an environmental issue that lasted more than ninety days.

The Deepwater Horizon oil spill disaster that took place in the Gulf of Mexico in April 2010 is the largest oil spill to have ever occurred in USA waters. As efforts to hold the current spill continues, the higher chances of clean up damage compensation technique, and also enhancing prevention of future oil spill responses and recovery. The rig was owned and under the operation of Transocean, a Switzerland-based offshore drilling firm, and leased to BP plc, one of the biggest oil firms in the world. The explosion and fire that led to eleven fatalities and several injuries took place despite specialized oil spill prevention equipment also known as a blowout preventer, which is designed to avert such a kind of disaster. The quantity

On April 20, 2010, BP-operated Deepwater Horizon oil rig exploded, claiming the lives of eleven people and injuring 17 others. The fire continued for

On April 20, 2010, the Deepwater Horizon oil rig, located in the Gulf of Mexico exploded killing 11 workers and injuring 17. The oil rig sank a day-and-a-half later. The spill was referred to as the Deepwater Horizon oil spill, BP oil spill, Gulf of Mexico oil spill, and BP oil disaster. It was first said that little oil had actually leaked into the ocean but a little over a month later the estimate was 12,000-19,000 barrels of crude oil being leaked per day. Many attempts were made to stop the leak but all failed until they capped the leak on July 15, 2010, and on September 19 the federal government declared the well “effectively dead.” In the three months that it took to finally put a stop the leak, 4.9 million barrels of oil were

When we look at the effect of the deepwater oil spill on other stakeholders, we see that they were impacted more negatively. There were 11 people killed and 17 were injured. Although the number of people in this group is small, losses of life and health weigh heavily on the scale as we assess the consequences of BP’s decision to forego the back-up switch.

To this day, researchers and scientists are gathering data to try and understand the oil spill and the impact it’s had on the Gulf coast, it’s communities and marine life. The well was capped off on July 15, 2010, which was eight-seven days after the explosion and sinking of the oil rig and was declared sealed on

The effect of oil spill is usually calculated in terms of damage on the environment, aftermath on marine species, and effect on the tourism and fishery industries. The impact on human health is less known relatively. The financial costs associated with oil spills are also a factor. Arguably, it is a less serious consequence of an Oil Spill, however the financial costs have the potential to bankrupt an organization. BP suffered major financial loss as a result of the Oil Spill in the Gulf of Mexico. They have paid up to $1.5 billion in an effort to settle various claims and compensation. (BP, n.d)

The BP Oil Spill An Introductory Background - One of the most controversial ecological disasters in recent history focused on multinational British Petroleum and their Gulf of Mexico Operations. The Deepwater Oil Disaster began on April 20, 2010 with an explosion on the Deepwater Horizon Oil platform, killing 11, injuring 17. It was not until July 15th, however, that the leak was stopped by capping the wellhead, after releasing almost 5 million barrels (206 million gallons) of crude oil, or 53,000 barrels per day into the Gulf of Mexico. It was not until September 19th that the relief well process was complete and the U.S. Government, EPA, and Coast Guard agencies declared the well breach effectively stopped (Cavnar, 2010).

The oil spill undermines the reputation and market position of British Petroleum, thus its stock prices decline dramatically. Even though BP took measures for resolving these problems, its way was not beneficial enough and therefore, it still requires more advantageous resolutions.

Deepwater Horizon oil Spill: BP’s drilling platform in the Gulf of Mexico had an explosion in April 2010, causing the “largest oil spill catastrophe in the petroleum industry history”. It caused the death of 11 men and injury to several others. “More than 150,000 barrels of crude oil gushed into the sea, every day, for almost 5 months and up to 68,000 square miles of the Gulf 's surface were covered” (1).