The Pros And Cons Of The Oil Spill

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The moral obligations including the legal of the wild and coral life at the location of the disaster need to be addressed. Mr. President of United States administration didn't address the issue several times and skipped to answer the questions of media raising doubts about the damage it created to the wild and coral life. The entire tourism industry along with the fishing industry was completed closed leading to many economic and financial crises in few states of the United States (David, 2013). For days, the animals in the sea, including the fish, dolphins were found on the shores of the Mississippi and Louisiana states and after careful medical review, they were poisoned because of the crude oil settled deep into the ocean. Ecological damage is very hard to measure and it could take few years to properly document the extent of damage created by the oil spill.
The major ethical issue is to protect the stakeholders and win back the trust of the stockholders. Right after the disaster, the stock value of BP has significantly decreased by 52% in 2 months of times, published by the New York Times. There was also a significant drop in the sales by 40% in 4 months of time. BP was made to pay huge fines to the United States government including the federal costs, the cost to clean up the water and stop the leak, relief camps to the local residents, providing the stipends because of the unemployment, thousands of claims had to be processed and paid to the victims. The investors
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