Effects of the Oil Spill on the Environment

In 2010, BP’s Deepwater Horizon rig exploded, causing millions of barrels of crude oil to be leaked out into the Gulf of Mexico. The extensive oil spill created a lot of pollution and far-reaching effects on the tourism industry. The resultant damage to marine wildlife such as fish will continue to be felt for many years to come. Weeks after the event, and while it was still in progress, the Deep Water Horizon oil spill was being discussed as a disaster that will impact global economies, markets, and mining policies. The potential consequences included structural shifts in energy policy, insurance marketplaces and risk assessment, and financial liabilities to be incurred by BP. The law that affected the operation of BP’s business was the Clean Water Act, which regulates the discharge of pollutants in US’s waters (EPA, 2008). Following the oil spill, regulations have been put in place to regulate oil drilling operations. The Obama administration proposed new regulations on offshore oil and gas drilling. The regulation focused on oil and gas drilling companies to use stronger blowout Preventers that have the capability to close an offshore well in case a drilling breach occurred accidentally.

The oil spill has been subject to global media coverage. On the 21st of April 2010 news broadcasting companies were broadcasting the news of this oil disaster all over the world. Every day in almost any general newspaper there would be an article based on both the chief executive officer (CEO) of BP and how he planned to solve the disaster or just reporting the disaster again. This is a great example of Globalisation. Due to the improvement of technologies such as the internet/ broadband and other improvements in telecommunications the globe could now receive instant news /coverage about almost anything almost anywhere in the world. Meaning that people are now more aware of what is going on in the world.

On April 20, 2010 the largest accidental marine oil spill in human history took place in the Gulf of Mexico. The incident resulting in methane gas was released and exploded killing 11 rig workers and having a major impact on our marine wildlife.

The oil spill in the Gulf of Mexico occurred because “oil from the well shot up and out of the drill column under high pressure, extended on the drilling rig and exploded (wikipedia)”. The rig set on fire and later sank. BP, Transocean, along with government agency employer, all worked hard to avoid further spread of the oil.

All indications are that the Company’s behavior pre oil spill was irresponsible and negligent and was potentially driven primarily by a focus to provide strong returns on their investments while compromising the integrity and internal controls of the operations. Post oil spill, the Company has had to learn from the consequences of a very costly disaster in order to stay in business and thrive. The Organization appears to understand now the need for effective communication, transparency and detailed due-diligence in all their efforts.

Spills like these cause us to see the bad of oil drilling, especially in the ocean where the oil can spread to marine life in surrounding water. There are many cons with drilling for oil, but there are also many pros. Personally it becomes hard to weigh the pros

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

On April 20, 2010, the Deepwater Horizon, claimed by Transocean and contracted to BP, encountered a sad and yet powerful blast,ending with the lives of eleven specialists. It additionally uncapped an ocean depths gusher that streamed for 87 days. An expected 210 million gallons of oil hurried into the Atlantic waters, destroying marine natural life and conveying the tourism and fish enterprises

MEJRI, Mohamed, and Daniel DE WOLF. 2013. "Crisis Management: Lessons Learnt From The BP Deepwater Horizon Spill Oil". Business Management And Strategy 4 (2): 67. doi:10.5296/bms.v4i2.4950.

The oil spill was the worst environmental disaster the US had ever had because it wasn’t like a hurricane or earthquake that happens in a minute or a day this could take months or years to clean up (Friedman 13). There has been millions

This paper will explain some of the effects of three legal issues and three ethical issues surrounding the London-based British Petroleum Company’s involvement in the explosion of the offshore oil rig Deepwater Horizon and the subsequent oil spill into the Gulf of Mexico. There are many legal issues surrounding this disaster, but the three this paper will focus on are the Oil Pollution Act of 1990, maritime laws, and criminal charges

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 government was also responsible for activating coast guards and the military in its response to the spill. Hence, the role of the US government here is crucial as a “parent” to ensure that BP acts in the welfare of its citizens.

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).