The Bp Deepwater Horizon Disaster - 1006 Words

Compliance and Regulation To maintain expected business practices, governments enact regulations through legislation as a means of ensuring that businesses operate within expected guidelines. Some regulations are proactive, such as Bill 198 (Better known as CSOX, the Canadian version of the Sarbanes and Oxley Act) which places additional expectations on the reporting and auditing of company financials (PriceWaterhouseCoopers, 2004). Other regulations are reactive; such as bill C45 that passed after the Westray mine disaster took the lives of 26 workers. This regulation looks to hold company executives personally liable for ignoring safety protocols and conducting behavior with criminal intent in the workplace (Canadian Center for Occupational Health and Safety, 2014). Regardless of their founding, regulations can impose stiff penalties upon companies that choose not to place focus on implementing the necessary controls in place to ensure compliance to them. The BP Deepwater Horizon Disaster On April 20, 2010, the British Petroleum (BP) leased Deepwater Horizon drilling rig took an unexpected kick of gas pressure from an oil well in the Gulf of Mexico. The release ignited, and through the failure of the blowout preventers progressed into a firestorm. The fire consumed the drilling rig platform, sinking it, causing 11 casualties, and the subsequent release of 4.9 million barrels of oil into in the gulf before the release contained (British Petroleum). The incident isShow MoreRelatedDeepwater Horizon Oil Spill: the Bp Disaster2305 Words   |  10 PagesAP Environmental Science Deepwater Horizon Oil Spill: The BP Disaster The Deepwater Horizon oil spill in the Gulf of Mexico was one of the most infamous industrial environmental disasters ever. On April 20, 2010, a marine oil-drilling dig called the Deepwater Horizon exploded, releasing hundreds of millions of gallons of oil into the Gulf of Mexico. This explosion resulted in the loss of human life, massive environmental damage, and widespread damage to the livelihood of people living along theRead MoreBp s Improve Sustainability And Its Reputation For The Deepwater Horizon Disaster1620 Words   |  7 Pagesgentleman by the name of William D’Arcy is the founder of the world famous gas station BP. D’Arcy had a thrill over oil and decided to invest all of his savings in the quest for oil in the Middle East. Experts and scientists helped encourage D’Arcy to pursue the venture. But years started to pass and funds starting to run low, William was starting to feel as if this was the wrong investment. Throughout the years BP has gone t hrough a plethora of ups and downs. From bankruptcy, to not being able to transportRead MoreBusiness Ethics. Bp Oil Disaster – â€Å"Deepwater Horizon Oil1214 Words   |  5 PagesBusiness Ethics BP Oil Disaster – â€Å"Deepwater Horizon Oil Spill† Thelma P. Eldridge Business Law – BUS 2301.88 Spring 2017 April 25, 2017 In today’s business world, businesses are subject to the laws of the country in which their company was organized and operates. Business owners are to conduct themselves and their affairs ethically and owe some degree of social responsibility for their actions. Ethics, although not law, is a set of moral principles or values that govern the conductRead MoreThe Issue Facing Bp Pre Oil Spill1074 Words   |  5 PagesIntroduction On Tuesday, April 20, 2010 the Deepwater Horizon rig burned for 36 hours, combusting 700,00 gallons of oil leaving a trail of smoke over 30 miles long and spilling 53,000-62,000 barrels of oil into the Gulf per day from April 20 and July 15. As of 2010, the Deepwater Horizon disaster was the largest marine oil spill ever to occur in U.S. water. Oil was found on the shores of all five Gulf States and many birds, fish, and reptiles perished due to the oil spill (Ingersoll, 2011, p. 1-2;Read MoreWhen Disaster Strikes : Bp s Risk Management Failure Essay1330 Words   |  6 PagesWhen Disaster Strikes: BP’s Risk Management Failure Risk is a concept that many organizations deal with on an everyday basis. In fact, risk is an integral facet of operating an organization. Risk has negative connotations, but that is a misnomer, because many organizations make use of it for positive gain. One way of looking at risk is that it is what an organization lays on the line so that they can gain something in return. Risk is not inherently bad; it is how an organization manages it thatRead MoreThe Spill Of The Deepwater Horizon1188 Words   |  5 Pagesthe Deepwater Horizon experienced an explosive blowout on a rig located in the Gulf of Mexico. The explosion was about 40 miles of the Louisiana coast. With the flow of gas leaking out, it caused the death of eleven workers on the rig. About two days later the rig sank, which caused quite a lot of damage to a pipeline that laid drawn-out through 5,000 feet of water. As a result, the oil begin pouring from the damaged pipes into the ocean nearby, at the incredible rate. Th e Deepwater Horizon was builtRead MoreThe Deepwater Horizon Disaster Analysis927 Words   |  4 PagesThe Deepwater horizon disaster portrays the weaknesses in the current drilling technology, management and design procedures. The outcome of the disaster shows high level of unawareness and unpreparedness, in the drilling companies. In this section, the report proposes various steps, which shall not only prepare the team, but also offer a guideline towards the response, in the case a similar disaster in the future. The proposed solutions include high-tech exploration, categorization of the disastersRead MoreThe Planning Function at BP1307 Words   |  5 Pagesconsists of a number of different steps, including situational analysis, alternative goals and plans, goal and plan evaluation, goal and plan selection, implementation and monitoring/control. The situation at BP is that the company is working to shake off the effects of the Deepwater Horizon disaster. While that issue remains in litigation, the company is continuing onward with its operations, building out its revenues and exploration capacity. The company has remained consistently profitable (MSN MoneyCentralRead MoreBP ´s Deepwater Horizon Oil Spill of 2010 Essay1401 Words   |  6 PagesIntroduction The purpose of this paper is to examine one of the largest offshore oil spills in U.S. history, BP’s Deepwater Horizon explosion in 2010. This paper seeks to investigate closely the system and the reasons of failure, to answer the questions behind numerous studies on this accident, Is Deepwater Horizon explosion inevitable? and What can we do to avoid such accidents? Within the scope of Perrow’s normal accident theory, this paper aims to draw conclusions to the above questions andRead MoreThe Deepwater Horizon Oil Spill2022 Words   |  9 PagesDeepwater Horizon Oil Spill The Context Before the occurrence of the Deepwater Horizon event, BP had already been labelled as having a horrible safety record. A 2009 report by the United States Department of Labour Occupational Safety and Health Administration (Todd Petterson , 2009), indicated that BP had 270 existing fines of a ‘failure to abate’ and 439 ‘wilful violations’ of various safety protocols. At the time of the disaster the regulators of the oil industry in the United States was the