Bp Deepwater Horizon Case Analysis Essay - 1392 Words

Rafique Sheikh. MGMT 518: Legal Ethical Env. of Business BP’s ethical conduct concerning the 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 the following text we will analyze the Deep Water Horizon Oil Spill from some of the well-known ethical perspectives. From the Perspective of the†¦show more content†¦When we look at the effect of the deepwater oil spill on other stakeholders, we see that they were impacted more negatively. There were 11 people killed and 17 were injured. Although the number of people in this group is small, losses of life and health weigh heavily on the scale as we assess the consequences of BP’s decision to forego the back-up switch. Many have described the post-spill Gulf as a gigantic chemical experiment, with as yet unknown effect on its delicate ecosystem. By July 2010, one third of the Gulf’s fishing area—more than 80,000 square miles—had been closed, affecting the livelihood of thousands in coastal Louisiana and Mississippi. Applying the theory of Utilitarianism to the Deep Water Horizon Oil Spill we see that BP’s decisions in this case don’t appear clearly ethical. The harms to human and environmental stability caused by the spill seem to weigh heavily against the benefits to the local and U.S. economy of deepwater drilling itself. From the Deontology Perspective: The Deontological ethics is marked by steadfastness to universal principles—for example, respect for life, fairness, telling the truth, keeping promises—no matter what the consequences (Halbert, Law Ethics in the Business Environment. pg. 17). In Deontological terms, the fact that BP withheld accurate and important information, combined with its superior access to it, violated the categorical imperative.Show MoreRelatedBP ´s Deepwater Horizon Oil Spill of 2010 Essay1401 Words   |  6 Pageshistory, 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 and set forth recommendations to be considered in other similar oil drilling systems. Case background OnRead 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 MoreThe Deepwater Horizon Oil Drilling Rig1480 Words   |  6 PagesThe Deepwater Horizon oil drilling rig caught fire on April 20, 2010, exploring and sinking after some days. The explosion was as a result of the equipment failure, perhaps the blowout protector, and the emerging explosion and fire killed 11 people, injuring others. The aftermath of the explosion became the largest issue in the US, estimated to surpass 1989 Exxon Valdez spill. The environmental contamination was huge, greatly impac ting marine life in the Gulf of Mexico and surrounding beaches ofRead MoreArgumentative Essay : Bp Oil Spill1558 Words   |  7 PagesArgumentative Essay: The BP Oil Spill Phillip Staton PHI 445 Personal Organizational Ethics Prof. Gloria Zuniga y Postigo February 29, 2016 Argumentative Essay: The BP Oil Spill Introduction In 2010, BP’s Deepwater Horizon rig exploded, causing millions of barrels of crude oil to be leaked out into the Gulf of Mexico. The extensive oil spill created a lot of pollution and far-reaching effects on the tourism industry. The resultant damage to marine wildlife such as fish will continue to be feltRead MoreThe Long Lasting Effects Of The Deepwater Horizon On The Gulf Of Mexico1544 Words   |  7 PagesThis essay will discuss the long lasting effects on the economy from the explosion on the DeepWater Horizon oil rig in the Gulf of Mexico. The events that took place on April 20, 2010 would go down in history as the worst deep sea oil spill in history. British Petroleum would suffer its greatest lost to date when one of its drilling rigs the Deepwater Horizon would blow up in the Gulf of Mexico (Crandall, Parnell Spillan, 2014). In the days and weeks following the explosion there were signs ofRead MoreThe Deepwater Horizon Oil Spill2022 Words   |  9 PagesDeepwater H orizon 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 theRead MoreFailure Regarding Corporate Social Responsibility Essay2147 Words   |  9 Pages Among the most monumental examples of failure regarding corporate social responsibility, that is to maximize profits within the law (Dejardins, 2014, p.53), is the Deepwater Horizon blowout catastrophe, occurring April 20, 2010. Historically noted as the single greatest environmental failure in the United States, the blowout of the Macondo well claimed 11 lives, injured dozens more, leaked 4.9 million barrels of oil into the Gulf of Mexico, disrupted ecosystems and communities globally, andRead MoreThe Disaster Scenarios And Test It Out1535 Words   |  7 Pagesproblems as it identifies various disaster scenarios. This avoids giving the organization a shock of complete surprise. As a result of contingency planning, an organization shifts from reacting to the event to showcasing their preparedness. In most cases, simply having a concept for responding to the event not only becomes the pivotal difference between initiating an effective response and panicking but it can also be the dif ference between 10 deaths and a few hundred corpses. Correspondingly, havingRead 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? .....................Read MoreStrategic Planning at BP1198 Words   |  5 Pagesmodel is to create value across the entire hydrocarbon value chain Ã¥ ­Ëœtarting with exploration and ending with the supply of energy and other products fundamental to life (BP.com, 2012). Naturally, BP operates to enhance shareholder wealth as a primary objective. This general process is mirrored at BP. The company uses a structure that emphasizes the different functions exploration, extraction, refining and retailing. The strategic planning process at the highest level of the company seeks to develop

Mexico’s Economical Crisis, Facts and Remedies Free Essays

Mexico is the most advanced and developed nation in the Latin America, with a population over 96 million and per capita income about $3970 USD, it’s income ranges to the upper middle class in the Latin America. During the 60s and 70s the GDP grew by 3.5% annually, but then the crisis of 80s completely reversed the process and the whole Mexican economy went upside down followed by the 90s crisis which pushed back the GNP of the country to the 50’s level. We will write a custom essay sample on Mexico’s Economical Crisis, Facts and Remedies or any similar topic only for you Order Now In this paper we will discus the GDP increase and decrease of the Mexican economy facts of the crisis of 80s and 90s and GNP exchange crisis and inflation, debating about the factors involving in the crisis and discussion the ways the problem could be solved and presenting some suggestions about it. Sudden Collapse in GDP Growth; Why? As discussed in the introduction the data shows that during the seventh and eighth decade of the last century the GDP growth of Mexico showed a mean 3.5% annually growth, but after the 84 crisis the GDP growth shrank to 0.5%. This sudden collapse has aroused suspicions about the credibility of the Mexican claim of 3.5% GDP growth annually. GDP does not measure output reliably because it includes not only the final output produced by an economy’s market, but also transactional activities, which are intermediate to production. (Wallis and North 1986; North 1987) Governments spend a large amount of money on National Defense, Justice, Social Reforms and enforcing regulations. The transactional activities regarding these issues are intermediary in nature but are included in the standard computation of GDP. During the last three decades preceding the 84 crisis transactional activities have varied. Due the change in the structure of the nation’s economy i.e. the traditional agriculture trends declined and the share of manufacturing and services in the economy increased, as well as the economic interdependence. Government’s change in policies effected the transactional cost while the decreased in oil prices enhanced the process resulting the indebtedness of the government which compelled her later to take high interest loans, thus increasing inflation and the currency exchange rate became unstable . These all circumstances blew every thing out and Mexican economy was completely crushed resulting in sudden downfall of GDP. GNP Downfall in the 90s: In 1994 the GNP of the country fell down to its historical low as a result per capita income fell to the level of 50s and the plague of poverty spread all over the country leaving no one undisturbed. The main causes of this turbulence as analyzed by the economists were the demographic, environmental changes as well as the changing in the global scenario and also the emergence of NAFTA as most of the foreign investment was invested in the stock market and short term bond but all these devalued thus crushing down the peso. The increasing poverty and the deteriorating environment as well as the increasing inflation pressurized the already decomposed economy thus the weak currency faced a sudden downfall and the rate of exchange become intolerably unstable. The monetary market was panicked by the falling currency and soon every investor threw away the Mexican currency. The GNP fell rapidly and Mexico again fell in the darkness of high interest debts, inflation and poverty. What are the Rectifications? What Mexico needed after these sudden shocks complete is overhauling of the economy by making it free from old and conservative rules and regulations. The government should continue the process of the privatization of state owned enterprises, especially the ejido (Community Land Owned by the Government). The Federal Labor Law also needs some thorough reforms. While the most important thing to do is the clear and of the Assets of Petroleos Mexicanos (PEMEX) what ever it is deemed by the Mexican Government as a Mexican Sovereignty or not. A Promotion and Reconstruction bank should be created with the initial capital as $150 billion dollars, and also the board of directors should be select among the professional and honest persons. Businesses should issue bonds of their debt for 30 years. Income tax should be reduced immediately to 20%. The government should negotiate with the United States and Canada to obliterate the taxes and tariff between the three governments thus creating a free trade market. (Valenzuela, 1999) Conclusion: To recover from the shocks of the turbulences and achieve a sustainable growth process the Mexican Government have to make radical changes in the economy and has to redesign it in a more appropriate way that the economy becomes adaptable to the modern economic circumstances. Reference: Marco Espinosa, Steven Russell, The Mexican economic crisis: alternative views, http://www.frbatlanta.org/frbatlanta/filelegacydocs/Espin811.pdf Ricardo Valenzuela, 1999. A Prescription for Dealing with Mexico’s Economic Crisis,   http://www.westga.edu/~bquest/1999/prescrip.html Robert A. Blecker, NAFTA, the Peso Crisis, and the Contradictions of the Mexican Economic Growth Strategy,http://www.newschool.edu/cepa/papers/archive/cepa0103.pdf Wallis, J. J, D.C. North. 1986. Measuring the transaction sector in the American economy, 1870-1970. In Long-term factors in American economic growth, edited by S.L. Engerman and R. E. Gallman. Chicago: University of Chicago Press, pp. 95-161. Deirdre Griswold, 1995 Oil, debt and Mexico’s national sovereignty, In Workers World. http://www.hartford-hwp.com/archives/46/026.html How to cite Mexico’s Economical Crisis, Facts and Remedies, Essay examples

Ivory Smile free essay sample

Invisible beads of sweat collect at my temples and slowly draw moist lines along my cheek, down into the abyss of my button up shirt. My knees buckle under the beige khakis that have somehow, over the years, become my (albeit bland) uniform of choice. Dozens target me with laser-like eyes waiting, expecting perfection. Only one thing comforts me at this moment of tension, an ivory smile. No, unfortunately the comfort does not radiate from the reassurance of my beaming mother (quite the opposite actually). Nor does comfort stem from the facade of the grin I attempt to force out during this truly uncomfortable situation. It emanates from the smile right in front of me and soon from right under me. Slowly, a breath escapes the dry orifice of my mouth, I attempt to relax, and my fingertips finally touch that ivory smile. My melody began with the simple songs of Bach; the foundation of my elementary years was filled with minuets, preludes, and fugues. We will write a custom essay sample on Ivory Smile or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Steadily I developed and my recital soon filled with the repertoire of Beethoven, Tchaikovsky, and Chopin. Night after night, month after month, and soon even years of practicing only led me to believe that my talent was just that, a talent. Sure, the music that I could make with just my fingers was nice, (it was definitely nicer than anything that could come out of my own mouth!) but it was just some hobby that my parents convinced me I would love. True love, I learned, can’t always be instantaneous. With more proficient skills, it seemed a new door of opportunity opened itself to me every time I improved. I have a gift that I not only can share, but can use in order to develop my own being beyond the monotony of school and the â€Å"Circle of Life†. Music had cultivated my own view of how life can be whatever you want it to be as long as you take the time to develop it. My melody may have begun with simple lines and motifs, but only through continuing the song can th e complex and extravagant harmonies be truly appreciated. This is the melody of opportunity and hope, and it comforts me. My love for that wonderful key, that perfect chord, was a love that needed time to grow and mature into something special; something beyond just a hobby or a talent. I find peace as I knock out the â€Å"teeth† in that glimmering ivory smile. Happiness fills my heart as I strike the numerous notes and the stress of life is lost within the cryptic black lines before me. Every night when I have the opportunity to see that ivory smile, I can’t help but smile back and realize, sure, a perfect performance would be ideal but life isn’t always perfect and it’s because of those little, inevitable mistakes that you continue growing.