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Regardless of the cause, the crude oil is beginning to reach the United States coastline, and a
guaranteed fix for the leak is nowhere in sight. This was inappropriate and ineffective response
strategy because BP. You'll also notice several illustrations (and backgrounds) with drawings related
to the topic. By May 26 of 2010, over 130 lawsuits relating to the spill had. This would give the
country multiple advantages, both in terms of having a more reliable source of energy, without
having to depend on the conditions another country may impose or be naturally going through, as
well as economic benefits and reduced fuel costs. Marine Scientists Urge U.S. To Reassess Oil Spill
Response. Rather the researcher would be analyzing the ways in which the circumstances in the real
world indirectly indicate the different microeconomic theories. Therefore, feel free to seek help on
how to write a. McEachern, W. A., 2012. Economics: A Contemporary Introduction, 10th ed. You
can use this sample for research and reference purposes to help create your own paper. They claim
that small incidents and “minor” leakage is nominal, there is a small risk for hydrocarbons in the
sediment and biomagnification is not, likely, to ever occur. BP Oil Spill was also called the
deepwater horizon oil spill. It is highly rational to study the microeconomic impact of the oil crisis as
the wastage of oil thorough a spill would surely decrease its supply in the world market. Given that
BP was prior to this crisis, held in high regard and believed to be more than prepared for disasters of
this magnitude, stakeholders were entirely surprised as they watched crude oil flowing into the Gulf
of Mexico for close t three months (Juhasz, 36). Following the forced resignation of Lord Browne in
2007,12 the rhetoric of his. Hersh Shefrin, “Behavioural Corporate Finance”, 2007, London:
McGraw-Hill Irwin, p. 12. The Federal Government's Role In BP Oil Spill, May 25 2010 8. At
PremiumEssays.net, we promise our clients quality sample essay and. The number of animals trapped
in the sludge and coated in thick, blackish-brown goo is not acceptable. For this reason, oil spill
response techniques are vitally important, especially under conditions of dynamic development of the
oil industry. The oil spill grants that BP provided to assist in environmental agencies’. They are
formed through combustion of organic matter as they occur in oil, coal and tar (Shimada and Fujii-
Kuriyama, p. The more difficult the crisis became (by not immediately taking the lead to bring in as
many government and industry experts as possible), the more damaging the consequences became,
and the more challenging it was to craft the perfect (acceptable) apology. But while BP was
considerably criticized for their faults in preventing the oil spill, the fact was that the US government
also missed considerable chances to prevent the attack and then later on further responses in light of
the attack5. According to Owen and Pickering (2006), the Gulf oil spill left a devastating
environmental impact, which might take a long time to account for an integral part of Gulf War cost.
April 3, 2012 This case was prepared.docx 10-110 Rev. April 3, 2012 This case was prepared.docx
adkinspaige22 Petroleum Management Services For Drill Exploratory Wells. It can be visually
breathtaking, from ocean views to the humbling perspectives from high cliffs or deep below the
waves of the seas. The risk is in this case was incredibly high and would have continuing
consequences and side effects (Tiffany, 2013). Irving Janis, “Groupthink”, 1982, Houghton-Mifflin,
Boston, MA. In March 2005, the failure of a blow-down stack at BP’s Texas City Refinery.
In sum, despite Hayward's initial apology, the actual exchanges with committee members created the
strong impression that BP was not prepared to accept responsibility. This indicates that the company
through attorneys agreed to the idea. According to Reid, 61, no single organization, however
successful, can manage a crisis of any magnitude if responsiveness is not embedded in their culture.
GIFs Highlight your latest work via email or social media with custom GIFs. For one thing, officials
initially underestimated the threat of a leak, taking on the word of BP officials when they were asked
about it a year earlier6. Nine years of research on BP spill Im doing a research paper on the BP oil
spill in the Gulf and i need help!. BP.Hey guys. I need a little help with my research paper. The
commercial reinforced the impression that BP was more concerned about damage control than
actually stopping millions of barrels of oil from leaking into the Gulf. New York: Wiley, 2000. Print.
Juhasz, Antonia. Black Tide: The Devastating Impact of the Gulf Oil Spill. Human error or
mechanical failures have resulted in devastating disaster with unbelievable immediate and long term
effects and consequences. This is one of the instances when the convenience of modern society and
the means to attaining become a double-edged sword, As long as oil continues to be a mainstay of
societal needs, then the risk associated with it cannot be completely decreased. The first round of
grants announced Wednesday by court-supervised claims. Hersh Shefrin, “Behavioural Corporate
Finance”, 2007, London: McGraw-Hill Irwin, page 46. Scientists, 2012). The focus of the
organization ought to have been on. As an Amazon Associate we may earn a commission from
qualifying purchases. Tourism doesn't happen on its own, it takes marketing dollars, particularly if
you're. While handling the issue of oil spill, BP ought to have focused on the. Approximately, 8,000
animals died as a result of the spill, many of which were species already considered endangered.
Statement from CSB Chairman John Bresland, U.S. Chemical Safety Board, October 30, 2009. And
if it is indeed their responsibility to do so, in the light of the fact that failure to do so has occurred
time and again, what is the government doing to prevent further such mistakes. Table 1: Illustrative
overview of behavioural psychology insights relevant to. The rig continued to burn until it fell into
the ocean the next day. When investigation was carried out into the causes behind the BP oil spill it
was found that had overlooked several factors, that had they been correctly addressed might have
prevented the accident2. Among the public segments that were affected the most by this oil spill.
The context of the say will not brief about the facts and features of the article. The adequate supply
of petroleum in the industry is very important for the manufacturing segment’s progress in a nation.
The BP should react immediately by working with the officials to seek. BP’s CEO, who was by then
known as Lord Browne, or the “Sun King”,5 had. Below is an example of the what it looked like
under the waves and on the surface when this disaster occurred (The Daily Green, 2013). Finding
alternative energy needs, where the obtaining and implementation possesses far less profound risks
and consequences. Different oil industry’s entities filed suits that sought compensation for.
World Resources Institute, January 2011, p. 14,, accessed June 29, 2012. In the years leading up to
the Deepwater Horizon disaster, BP experienced a. In order to write this original paper I borrowed
from the investigative work of the environmental journalist Abrahm Lustgarten, and from concepts
developed by behavioural finance and emotional finance academics such as the Canadian Hersh
Shefrin, the American John Nofsinger, and the Britons Richard Taffler and David Tuckett. With a
non-responsive culture, even the best technology and skill set among employees cannot prevent or
properly manage a crisis in the event of such an occurrence. U.S. Chemical Safety and Hazard
Investigation Board Investigation Report, pp.17-18. On April 20, another major “gas kick” caused
the failure of the well, resulting. Catalysing Ocean Finance: Transforming Markets to Restore and
Protect the G. Globalcompose.com sample research paper on analysis of type function model an.
That said if BP is found negligent the cost for 4.2 million barrels spilled, will be approximately, 19
billion dollars. A complete sentence contains a subject and a predicate. XfilesPro Enhancing SaaS
Performance: A Hands-on Workshop for Partners Enhancing SaaS Performance: A Hands-on
Workshop for Partners ThousandEyes My self introduction to know others abut me My self
introduction to know others abut me Manoj Prabakar B Unlocking the Cloud's True Potential: Why
Multitenancy Is The Key. Let me be clear: BP has accepted this responsibility and will fulfill this
obligation. Indeed as the saying goes, prevention is better than cure, a fact that can be illustrated no
more perfectly that in this case. While handling the oil spill issue, the company ought to have
avoided. BP’s staff found themselves in the domain of losses, for which the prospect. BP might
consider the oil spill was only an accident, prove a. Some of their safety and planning measures for
responding and preventing oil spills go beyond the regulatory requirements. However, according to
the researcher analyzes that in future the market price of oil and other goods can only be control if
people start investing in renewable sources of energy (Simon, 2003). This indicates that the company
through attorneys agreed to the idea. We will not rest until the well is under control, and we will
meet all our obligations to clean up the spill and address its environmental and economic impacts. As
one former senior BP employee commented, The only time Tony Hayward opens his mouth was to
change feet. A complete sentence has three characteristics: First, it begins with a capital letter. Oil
prices and other economic factors will have a large role to play, but be that as it may, the
environmental concerns and risks involved cannot be overlooked either. It proved to be the largest
accidental oil spill in the world as it was. April 3, 2012 This case was prepared.docx 10-110 Rev.
April 3, 2012 This case was prepared.docx adkinspaige22 Petroleum Management Services For Drill
Exploratory Wells. Oedipus, persist in its hubris and fulfil its fateful destiny. It killed eleven crew
members of the Deepwater Horizon drilling. EPA’s Oversight Role Should Be Strengthened With
Respect to Oil Spills. EPA’s Oversight Role Should Be Strengthened With Respect to Oil Spills. In
order to fully understand the construction of a complete sentence, we need to define what.
Tornadoes, monsoons, earthquakes, and tsunami’s crash down upon human society leaving little in
its wake. We have trained the best scholars in different fields of study.Contact us now at
premiumessays.net and place your order at affordable price done within set deadlines.We always
have someone online ready to answer all your queries and take your requests. The drilling rig,
located 66 kilometers southeast of the Louisiana coast, left an oil gusher that was finally capped on
July 15, almost 2 months later. Investor Presentation Medirom Healthcare Technologies Inc. The
Obama administration also received criticism for not responding to this crisis quickly enough. Such
mutations prove that the damage to the environment goes far deeper than the “surface,” it can affect
generations. Although the intimate mechanisms involved in the unfolding of the. April 3, 2012 This
case was prepared.docx 10-110 Rev. April 3, 2012 This case was prepared.docx adkinspaige22
Petroleum Management Services For Drill Exploratory Wells. For one thing, officials initially
underestimated the threat of a leak, taking on the word of BP officials when they were asked about
it a year earlier6. Keep on browsing if you are OK with that, or find out how to manage cookies.
This indicates that the company through attorneys agreed to the idea. Protection Agency), coupled
with a fine amount worth. It has now been several years and the fishing industry is reestablished and
continues to aid in the restoration of the economy. Environmental protection and human health
promotion was the main. Borrowing from mythological references, it first describes how its main.
These animals are hardly recognizable, coated in thick goo that renders them, essentially, helpless. As
a result of this underestimation, the government disregarded the need for critical action, trusting the
word of the company that said would take care of it. Therefore, feel free to seek help on how to
write a. BP’s CEO, who was by then known as Lord Browne, or the “Sun King”,5 had. Thus, given
the market demand for petroleum the decreased in supply have indeed increased the price of oil in
the market for U.S. from say P1 to P2 (McEachern, 2012). The following is a summary of steps that
BP should have taken prior to and during the spillage to better manage this crisis: Build a culture of
responsiveness to safety issues with precise plans and financial reserves for such occurrence as was
the case in the Gulf of Mexico. The focus of the message in the context of the tourism or travel. The
failure on BP's part to take immediate command of (and responsibility for) the situation lost valuable
time, which exacerbated the crisis. This report examines the defining elements of the decision-
making process. They range from environmental issue to economic, ecological, ethical, politics and
policies. Yet, on this occasion it apparently failed, with disastrous consequences. The importance of
compensation was the major message that BP sent. The plan referred only to equipment available to
BP. Valdez disaster is a good case in point.52 BP’s subsequent failed attempt at. Keep on browsing if
you are OK with that, or find out how to manage cookies.
The focus of the message in the context of the tourism or travel. The deepwater horizon oil spill or
BP Oil Spill is among the worst. And while we can't undo these tragic events, I give you my word
that we will do the right thing. BP might not admit their faults and shift the blame to other. World
Resources Institute, January 2011, p. 14,, accessed June 29, 2012. Discussion The ecological
ramifications are, essentially, obvious. Those that oppose it naturally do so on the basis of the
environmental factors and other risks involved, feeling that the cost benefits are not a viable
excuse11. Effects of a Tourism Crisis: The Impact of the BP Oil Spill on Regional. In the weeks
preceding the disaster, the operations had entered the critical. Deepwater Horizon, Transocean’s star
rig, as a replacement.21 The firm was. Additionally, the focus of the strategy was on the
stakeholders’ short. Once the leak occurred, they underestimated the extent of the leak. BP was
believed to be responsive, but this crisis exposed major flaws in their safety preparedness as the
world watched with horror, oil flowing from their well for 87 days. BP Oil Spill was also called the
deepwater horizon oil spill. No resource available to this company will be spared. We are all aware
that one of the main causes that let to the disaster were the result of bad decisions, in which a less
expensive option whether to run a test or use a particular kind casing pipe, for example would save
lives. She covers science, the environment, and human health. Finally, the report concludes on a short
reflection regarding the impact of. Macondo, BP submitted an Application for Permit to Modify to
MMS.22 By the. Finding alternative energy needs, where the obtaining and implementation
possesses far less profound risks and consequences. In order to write this original paper I borrowed
from the investigative work of the environmental journalist Abrahm Lustgarten, and from concepts
developed by behavioural finance and emotional finance academics such as the Canadian Hersh
Shefrin, the American John Nofsinger, and the Britons Richard Taffler and David Tuckett. BP’s staff
found themselves in the domain of losses, for which the prospect. Therefore, feel free to seek help on
how to write a. With improved technologies, monitoring and shutdown of plants should be
automated, such that, whenever a detrimental oil spill occurs, the valves shut down automatically.
Different oil industry’s entities filed suits that sought compensation for. Underwater plant life and
animals, like fish and shellfish, were, also, suffering. The focus of the message in the context of the
tourism or travel. The term commercial is appropriate here—although CEO Hayward stated that he
was deeply sorry for the crisis, the commercial appeared to many cynics as a blatant effort at self-
praise for everything BP has been doing to take responsibility for the accident and compensate those
affected. These animals are hardly recognizable, coated in thick goo that renders them, essentially,
helpless. Several detailed analysis of the chain of events that led to the deep water oil rig.
Lindsay Conlon and Alisa Zomer, “In Deep Water: Weak Governance and the Gulf Oil Spill, a 30-
Year Timeline”. This oil spill also affected the United States’ oil industry. Globalcompose.com sample
research paper on analysis of type function model an. It's like a masterclass to be explored at your
own pace. If the company wants to get credit for the clean-up efforts. BP Oil Spill was also called
the deepwater horizon oil spill. To this day, fishermen continue to find shrimp with improperly
formed eyes and crabs with malformed or absent claws. U.S. Chemical Safety and Hazard
Investigation Board Investigation Report, pp.17-18. Environmental protection and human health
promotion was the main. Whilst there is a strong push toward greener cleaner energy sources, the
fossil fuel industry continues to draw on the support of the Australian Government and others,
principally, due to the economic benefits and financial rewards for all. Globalcompose.com sample
research paper on analysis of type function model an. Protection Agency), coupled with a fine
amount worth. This oil was washing up the shores even after the gushing well was capped in July
2010 Griggs, 2011. FDA Risk Assessment of Seafood Contamination after the BP oil spill. But while
BP was considerably criticized for their faults in preventing the oil spill, the fact was that the US
government also missed considerable chances to prevent the attack and then later on further
responses in light of the attack5. In a second section, using the literary concept of the dramatic arc,
the report. As long as the area is still affected by the after-effects of. BP provides support for a
variety of community organizations and. Mexico. This is because the oil spill limited individuals’
movement in the. With the many environmental and human challenges faced in today’s business
environment thanks to the advance in technology and other external risk factors, organizations
continually work towards optimal preparedness because negative information travels fast in present
times. Churchill and two global conflicts help the Anglo-Persian Oil Company become a. It is
important to consider preliminary data regarding the potential economic costs of the Gulf War oil
spill, observing that the ecological destructions to wildlife and habitats are probably to be greater as
compared to the market-based costs like the lost profits of both tourism and fishing. EPA’s Oversight
Role Should Be Strengthened With Respect to Oil Spills. This report also includes recommendations
made by experts in the specified fields relating to solving the issues brought fourth by this
aforementioned spill. The truth, however, is that this is a complex accident, caused by an
unprecedented combination of failures. Investigations into the causes of the incident are ongoing,
and issues of liability will be sorted out separately when the facts are clear and all the evidence is
available. Let us analyze what would happen if the government refused to allow offshore drilling to
occur. In the United States’ context, tourism seems to be among the most vital. Diversifying into
niche product or service areas (e.g. On the other hand B.P. also lacked in its efforts to ensure an.
The media used in encoding the message for major shareholders in the. In this lesson, we will look at
how to write a complete sentence and analyze common. The government of the country has imposed
heavy penalties on the company due to the inflationary costs in the economy. Unleashing the Power
of AI Tools for Enhancing Research, International FDP on. Oil critics say that government officials
rely on oil companies to manage the oil spills, meaning they do not go into the investigation
personally by going on site or into an in-depth investigation, thereby making their response to the
spill inadequate. Oil prices and other economic factors will have a large role to play, but be that as it
may, the environmental concerns and risks involved cannot be overlooked either. Agency to manage
various issues that affected the environment. This. However, surprisingly the people in the areas
affected feel a bit differently. Adobe Express Go from Adobe Express creation to Issuu publication.
Add Links Send readers directly to specific items or pages with shopping and web links. This oil
spill also affected the United States’ oil industry. In other words, such endeavors will always release
some oil into the sea, for one reason or another; it would inevitably be released into the ocean. We
are going to do everything in our power to address fully the economic and environmental
consequences of this spill and to ensure that we use the lessons learned from this incident to make
energy exploration and production safer and more reliable for everyone. Retrieved from British
Petroleum. (2013). Deepwater horizon accident and response. We have worked to hire employees
and contractors, and to buy many of our supplies, locally. It, also, nearly economically crippled the
populations living and working in and around the Gulf, which lead to serious economic hardships
(Tiffany, 2013).The entire ordeal continued for weeks, but the ramification may be felt for some
time. Among the public segments that were affected the most by this oil spill. The fines levied by the
Environmental Protection Agency (EPA) involve a per-barrel cost. Mbarrett, P. (2013). Spillapalooza:
How Bp Got Screwed In The Golf. The oil spill grants that BP provided to assist in environmental
agencies’. Therefore, feel free to seek help on how to write a. Each question (and non-answer)
created the strong impression that BP should be apologizing for more mistakes. GIFs Highlight your
latest work via email or social media with custom GIFs. Borrowing from mythological references, it
first describes how its main. BP’s CEO, who was by then known as Lord Browne, or the “Sun
King”,5 had. Marine Mammals: BP is participating and providing fundings for live. This report
examines the defining elements of the decision-making process. British Petroleum and the United
States Government then decided to deny existence of harmful deep water oil plumes that could
potentially harm sea life. If you stay on our website, it means that you agree to our. The focus of the
message in the context of the tourism or travel.