The Case Of Bp Oil Spill - 2287 Words

about the dangers of oil and how to clean it up in case it were to get released into the wild. Mitigation is the actions to reduce or eliminate the risks to people and property from such hazards and their effects (Haddow et al, 2014). This definition of mitigation seems to say that, when dealing with risks, they want to greatly reduce any dangers that might come with each risk, and want to save as many lives or property from severe damage or in some cases death. In the case of the BP oil spill, one mitigation would be so that no oil would get out and affect the ocean or marine life. Most oil rigs come with safety standards or protocols in order to mitigate any dangers it might have, to keep the marine life safe, and the safety of the workers on the oil rig. Here the lessons learned could apply to the BP oil spill to make sure it didn’t happen in the first place. In fact, the disaster could have been prevented through proper training, education, and exercises (Haddow et al, 201 4). Here we can see that the BP oil spill could have been prevented if the right precautions were put in place and had the people running the oil rig had proper training on how to handle an emergency if it were to occur on their watch. The disaster could also have been prevented through a series of preparedness. Preparedness is the capacity to respond to a disaster, crisis, or any other type of emergency situation (Haddow et al, 2014). This definition seems to say that, when we use preparedness, itShow MoreRelatedBp Oil Spill Case Study1237 Words   |  5 PagesBP Oil Spill Case Study Brooke Campbell Lander University ere several factors that contributed to the accident: †¢ Valve Failure: The pipe was sealed in two different ways. The pipe was filled with cement and it also had two different valves to stop the flow of gas and oil. All of the valves did not operate correctly, causing the oil and gas to go up through the pipe and head towards the surface. †¢ Leak was spotted too late: The crew at the surface should have been able to see or detect thatRead MoreCase Study on Bp Oil Spill816 Words   |  4 PagesGROUP PROJECT- CASE STUDY | A report submitted in partial fulfillment of the course | | MODERN INVESTMENT PORTFOLIO MANAGEMENT | INSTRUCTORS: PROF. S.K. BARUA PROF. J.R. VARMAACADEMIC ASSOCIATE: MS. VAISHALI SATTAREPORT PREPARED BYGROUP 12MEENAKSHI DEOGAM M. SHYAMNIMISHA SAXENARAGHAV YADAVROHAN ANANDDATE OF SUBMISSION: 24TH AUGUST, 2010 | | Effect of BP oil spill and subsequent market reaction on the assets of pension funds andRead MoreCase Study: BP and the Gulf of Mexico Oil Spill3602 Words   |  15 Pages......................................................2 Do you agree with Tony Hayward’s quote at the end of the case? .................................................................2 Was this disaster strictly a BP failure or an industry accident?........................................................................2 What factors affect the competitive environment of the oil industry? ...........................................................2 Question 2 ...............................Read MoreBp And The Gulf Of Mexico Oil Spill Case Study3246 Words   |  13 Pages BP and the Gulf of Mexico Oil Spill Case Study Tamatha French Management 6000 Hawaii Pacific University â€Æ' Introduction and Background On April 20, 2010, the petroleum industry suffered the largest maritime disaster oil spill in its history known as the Deepwater Horizon oil spill. The Deepwater Horizon oil rig that had been working on a well for BP in the Gulf exploded and went up in flames. Subsequently, massive amounts of oil spilled out into the water, threatening the marine life andRead MoreThe Negative Effects Of Human Civilization On The Environment1623 Words   |  7 Pagescarpooling, switching to natural gases instead of coal and oil, and creating laws to reduce carbon emissions in factories and began recycling in order to find new ways to reuse old material. In many ways, the everyday people of the country are putting in their part to help the planet survive and thrive for the generations to come. It should not be an outrageous thought that the large, multimillion dollar corporations monopolizing a good portions of the oil sold in America should do the same. Yet, there haveRead MoreBp Oil Spill822 Words   |  4 PagesBP OIL SPILL Under the Deepwater Horizon, an offshore drilling ring of British Petroleum (BP) caused an oil spill in the Gulf of Mexico. The incident occurred on April 20th 2010, where equipment failed and caused the explosion sinking the ring, and causing the death of 11 workers and more than 17 workers injured. The British based energy company also faced other problems at the site of the oil spill. More than 40 million gallons (estimated data) of oil spewed into the Gulf of Mexico. Oil spillRead MoreThe Legal Issues and Ethical Effects of the Deepwater Horizon Explosion and British Petroleum Oil Spill in the Gulf of Mexico 20101542 Words   |  7 PagesBP Gulf Oil Spill 1 Running Head: BP GULF OIL SPILL The Legal Issues and Ethical Effects of the Deepwater Horizon Explosion and British Petroleum Oil Spill in the Gulf of Mexico 2010 Terry D. Bollman Park University BP Gulf Oil Spill 2 British Petroleum’s Roll in the Gulf Oil Spill 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 oilRead MoreKey Stakeholders And Their Involvement1159 Words   |  5 Pagesfalling since the explosion, and have not returned to the original value before the incident (Read, 2010). Dividends were also not given out that year (ibid). As such, BP had to take measures to regain shareholder confidence. This incident also led to the resignation of BP’s Chief Executive Tony Hayward. Government As the oil spill concerned United States’ citizens and land, the US government stepped in to overlook the clean up of the disaster (Read, 2010). Aside from setting up a $20 billion fundRead MoreBp Oil Spill1198 Words   |  5 PagesBP Oil Spill Chait, J, (2010). Dear Leader. New Republic, 241(10), 2-2. Retrieve June 21, 2010, from Academic Search Premier. This article discusses the present oil spill in the Gulf of Mexico. The president’s has not changed the Minerals Management Service. In reality, the federal government has no agency tasked with capping undersea oil leaks. All the necessary equipment, along with the expertise for operating it, resides with the private sector. BP will likely bear the full cost of the spill;Read MoreBp Deepwater Horizon Case Analysis Essay1392 Words   |  6 Pagesthe Deep Horizon blowout Background: The Deepwater Horizon oil spill or the BP oil spill refers to the oil spill in the Gulf of Mexico which flowed for three months in 2010. The spill was a result of the explosion of Deepwater Horizon, which drilled on the BP-operated Macondo Prospect. The explosion killed 11 men working on the platform and injured 17 others (Summarized from Wikipedia article on: â€Å"Deepwater Horizon oil spill† http://en.wikipedia.org/wiki/Deepwater_Horizon_oil_spill ) In