The BP Oil Collapse

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.

In my opinion there were four key causes in this disaster which were, lack of communication between BP and Transocean, multiple operations were under way simultaneous, several irregularities were already known and were failed to be looked into, and BP choose a less costly well, which came with higher risk. Helms (2015) reports that BP is worth 120.8 billion dollars

The 20th of April 2010 will be marked as the worst day in British Petroleum PLC’s history, the day that there was an explosion on the Deepwater Horizon drilling rig whilst drilling in the Gulf of Mexico, killing 11 people and causing devastation to all the surrounding areas. The events of this day affected the global markets and relationships between countries substantially.

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

BP has experienced several disaster events in their history that has damaged their reputation with the community. Most of these disasters have ended up costing the communities and the environments within them the most. BP is taking a stand against global warming to find alternate means of energy that will not be hurtful to the environment as well as maintaining a role in the clean-up of the spill areas (Thorne, 2010). With the fluidity of the Gulf of Mexico environment, we may never know the scope of the devastation caused by the spill. However, BP is doing what they can to clean up the environment affected by the spill in the Alaskan waters. During the winter months, BP sends a team to Alaska to continue the clean-up efforts and return

Deepwater Horizon Oil Disaster- (Argumentative Essay) Were you aware that when the Deepwater Horizon disaster happened it took 36 hours for it to fully submerge, and when the fish died because of all the oil fishermen could not make a living and support their family because they could not do their job and earn money? During the Deepwater Horizon oil spill on April 20, 2010, there were two major players at blame, BP, and TransOcean. The Disaster occurred because TransOcean, the drilling company did not take care of the B.O.P. (Blow Out Preventer) and because they had a broken E.D.S. Panel (Emergency Disconnect System). So what happened was that TransOcean had nothing under control and because of that there was chaos and many lives had been

Since the ocean affected by the spill, the cockroaches from the sea became unhealthy/ill and the number of fishes decreased each day. Many businesses started to go down which made employees lose their job.

In 1989 the oil tanker Exxon Valdez ran aground on Bligh Reef located off the coast of Alaska. The Exxon Valdez spilled thousands of barrels of oil into Prince William Sound, which was the biggest oil spill to date. “Thousands of animals and hundreds of thousands of birds died in the days immediately after the spill. The fishing and tourism industries suffered losses estimated in the millions of dollars” (Loeb & McCall, 2008). The incident was investigated thoroughly and legal cases were pursued against ExxonMobile.

Within hours of the Deepwater Horizon accident, BP teams were working to stop the leak. We also acted to minimize the spill’s impact on the environment by containing, removing and dispersing oil offshore, protecting the shoreline and cleaning up oil that came ashore. And we worked with wildlife groups to develop rescue and rehabilitation programmes for turtles, birds and other species. www.bp.com/ gulfofmexico/inpictures

One example of a managerial communication failure is the BP oil spill in 2010. According to the article on The Guradian.com, the BP oil spill was due to chronic safety lapses. Since the safety lapse were reportedly ignored, a new social norm is created within the business. The ultimate outcome of the problem was that this new social norm allowed many events that would have normally triggered that investigation pass without incident. This is the reason for one of the major oil disaster.

With the huge impact of the oil spill on marine life and coastal regions, fishing and tourism industries of the places affected in the Gulf Coast severely declined. In the fishing industry, the incident led to an approximate $2.5 billion loss, while tourist industries experienced a loss of a predicted $23 billion (Jarvis, 2010). In addition, the moratorium placed on deep water drilling left 58,000 workers unemployed (ibid).

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).

On April 20, the explosion on the Deepwater Horizon drilling rig in the Gulf of Mexico led to the largest accidental release of oil into marine waters in history. As a result, a huge loss of money and life was caused and affected serious environmental damage to wild animals and water pollution. BP was accused of their irresponsibility that it took 87 days before the well was closed and sealed. BP’s shares