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Bp Oil Spill Analysis

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Bp Oil Spill Analysis
I. INTRODUCTION

1. Scope of Research

The spectrums of oil spill issues are diverse and large. They range from environmental issue to economic, ecological, ethical, politics and policies. Among many other oil spills, the BP oil spill in the Gulf of Mexico, occurred on April 20, 2010 was recorded as the greatest environmental disaster in our history (BP leak the world's worst accidental oil spill, 2010).

The goal of our research is to seek possible solutions to reduce the risks of offshore oil spills. To attain this goal, we gathered information from over twenty sources, including “Deepwater Horizon oil” from Wikipedia research and an article from the LA Times.

Our research focused mainly on four aspects of the BP oil spill, the aspects of environment, economy, politics and policy, and the internal BP crisis. At first, we went over the background of BP and its oil spill to identify the issues. Secondly, we analyzed problems and issues of four main categories. We addressed impacts on: marine ecology and human health risk as an environmental issue, economic loss and compensation problems as an economic issue, offshore drilling policy issue as a political issue, and BP’s internal management crisis.

After analyzing BP oil spill problems, we discussed possible solutions for each problem we dealt with by analyzing pros and cons of each. Finally, we suggest recommendations for each solution.

2. Background

Deepwater Horizon, one of BP’s drilling rigs, had a blowout on April 20th, 2010, which led to the most serious oil spill disaster in the Mexico Gulf. Eleven workers were killed in the explosion and fourteen people were injured (Robertson & Krauss, 2010). Up to 100,000 barrels of oil was going into the sea every day. As much as 68,000 square miles of sea were polluted (Burdeau, Cain, 2010). This incident causes several tough problems including environmental, political, economic and legal problems.

After finding the spill of oil, BP took


References: BP Oil Spill 's Economic Impact on Gulf Travel = $22,700,000,000. (2010, July 24). Retrieved October 15, 2010, from http://www.familytravelforum.com/share/blogs/14335-Oil-Spills-Economic-Impact-Gulf-Travel-22700000000.html Brenner, N., & Guegel, A Broder, J.M. (May 3, 2010). Obama to open Offshore Oil Drilling for First Time. The New York Times. Retrieved on October 15, from http://www.nytimes.com/2010/03/31/science/earth/31energy.html?_r=2 Burdeau, Cain; Holbrook, Mohr, July 27, 2010 Cohen, J. (2010). Poll shows negative ratings for bp, federal government. Washington Post.com. Retrieved October 8, 2010, from http://global.factiva.com.lib-proxy.fullerton.edu/ga/default.aspx Collette, M Deepwater Horizon oil spill. (2010). Wikipedia. Retrieved on October 15, 2010 from http://en.wikipedia.org/wiki/BP_oil_spill Drake, Bruce Exxon Valdez Oil Spill: Dispersants. (n.d). Retrieved October 15, 2010, from http://library.thinkquest.org/10867/cleanup/methods/dispersants.shtml Exxon Valdez Oil Spill: Cleanup Methods How Do We Protect The Environment From Oil Spills? (2010, June 10). Retrieved October 15, 2010, from http://www.oiltoday.co.uk/2010/06/10/how-do-we-protect-the-environment-from-oil-spills/ Jacobson, M.Z Keck, K. (May 3, 2010). "Could oil spill sap appetite for Obama 's offshore drilling plans?", CNN.  Retrieved on October 9, 2010, from http://edition.cnn.com/2010/POLITICS/05/03/obama.oil.strategy/index.html Kerr, Richard A Mascarelli, Amanda. June 24, 2010. Oil-spill health risks under scrutiny. Retrieved from: http://www.nature.com/news/2010/100624/full/news.2010.316.html 24 June 2010 Mauer, R & Tinsley, A.M McQuaid, John. ( 2010, May 10). The Gulf of Mexico Oil Spill: An Accident Waiting to Happen. Environment360. Retrieved Dec 14, 2010, from: http://e360.yale.edu/content/feature.msp?id=2272 Morse, S None to Claim Their Bones. June 14, 2010. Louisiana DHH Releases Oil Spill-Related Exposure Information. Retrieved from http://www.dhh.louisiana.gov/offices/news.asp?ID=378&Detail=1644. Oil spills.(n.d) Oil Spills. (n.d). Retrieved October 15, 2010, from http://library.thinkquest.org/CR0215471/oil_spills.htm Products and services Stein, Rob. (2010, May 30). Attention turns to spill-related health risks. Retrieved Dec 2, 2010, from http://www.washingtonpost.com/wp-dyn/content/article/2010/05/29/AR2010052904010.html Tangley, L Tankersley, J. (2010, June 17). How BP compensation fund will work. Los Angeles Times. Retrieved October 15, 2010, from http://articles.latimes.com/2010/jun/17/news/sc-dc-bp-escrow-20100616 Weisman, Jonathan; Chazan, Guy White, R.D. (2010, June 17). Oil spill may cost BP far more than $20 billion. Los Angeles Times. Retrieved October 15, 2010, from http://articles.latimes.com/2010/jun/17/business/la-fi-oil-spill-bp-20100617/2 Where we operate
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