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Economic and Ethical Impact of Deepwater Horizon Oil Spill

   

Added on  2019-10-31

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Running head: ACCG100 ACCOUNTING IN SOCIETY ACCG100 Accounting in Society Page1
Economic and Ethical Impact of Deepwater Horizon Oil Spill_1

Table of ContentsIntroduction3Overview of Company3Ethical Issues4Stakeholders Affected by the Ethical Issue4Impact of Decisions5View on Business Ethics6Conclusion6References7Page2
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IntroductionThe disaster caused due to oil spill in 2010 at theGulf of Mexico is termed as the Deepwater HorizonDisaster. British Petroleum (BP) was heldresponsible for this disaster and was marked bysinking of the oil rig. Technical failures led theDeepwater Horizon to catch fire that further led toloss of life and injury of many workers. Around205.8 million gallons of oil is noted to have releasedinto the water due to the spill and is one of thelargest disaster, which is related with the waterfrontiers in the United States of America (USA)(Ingersoll, Locke & Reavis, 2012). The objective ofthe paper is to highlight the ethical issues concernedwith oil spill. Overview of Company BP is observed to be a leading player in the gas andoil industry of the global market. It came intoexistence during the early 1900s in England. Theorganization uses innovative technology so that it ispossible to reduce emission of carbon duringextraction of oil and gas from the deep sea. BPoperates in 72 nations around the globe and has atotal workforce size of above 70,000. Moreover, thewell known brand of BP that operates in the globalmarket includes Castrol, Aral and ampm (BP p.l.c,2017; BP p.l.c, 2017a). The business at present isheaded by the Carl-Henric Svanberg, who after thePage3
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