This website uses cookies to ensure you have the best experience. Learn more

Impact Of The Deepwater Horizon Oil Spill On Usa’s Environment And Economy

1906 words - 8 pages

Depleting reserves, high oil prices and spectacular offshore discoveries concentrated a global attention to deep water (National Geographic, p.3). Joel and Bourne (2010) claim “the Gulf of Mexico now accounts for 30 percent of U.S. production, with half of that coming from deep water (1,000 to 4,999 feet)”. The U.S. government roughly calculated that the deep Gulf might contain 45 billion barrels of oil (NG, p.44). Hence, this fact gave new reasons for oil companies to drill oil wells in that region. The Minerals Management Service (MMS), the national agency that administrated offshore drilling, used to claim that the possibilities of blowout were less than one percent, and that if one did happen, it would not release much oil (National Geographic, Joel.K, Bourne, JR. The deep dilemma, October,2010, vol.218., no4, p.42). But an explosive blowout of the Maconda well that occurred in late April contradicts MMS’s statement. Since Deepwater Horizon rig explosion caused the most serious accidental marine oil spill in history and instantly acquired major political, environmental and economic importance (Robertson and Krauss 2010). According to Deepwater Horizon Accident Investigation Report, a well control incident allowed hydrocarbons to escape from the Macondo well onto Deepwater Horizon oil rig, causing explosions and fire on the rig. The fire proceeded for thirty-six hours until the rig sank (Deepwater Horizon Accident Investigation Report). For approximately three months, hydrocarbons escaped from the container through the blowout preventers and the wellbore, resulting in a spill of national significance (Deepwater Horizon Accident Investigation Report). Worse still, eleven workers died, 205.8 million gallons of oil gushed into the ocean, destroying marine habitats, poisoning birds and fish and shattering local communities along the Gulf (Greenpeace 2010). After two months Macondo well began gushing crude oil, President Barack Obama addressed to the nation from the Oval Office, he said: “Already, this oil spill is the worst environmental disaster America has ever faced. And unlike an earthquake or a hurricane, it is not a single event that does its damage in a matter of minutes or days. The millions of gallons of oil that have spilled into the Gulf of Mexico are more like an epidemic, one that we will be fighting for months and even years.” Through January 25, 2011, there were collected 8,209 birds, 1,143 sea turtles, and 109 marine mammals affected by the spill—alive or dead, visibly oiled or not (Unified Area Command). It is quite apparent that the Deepwater Horizon blowout is both terrible environmental and human catastrophe and it will probably demand not months but decades of nationwide effort to address and recover (Deep water).The specific goal of this paper is to provide a conceptual framework for identifying and understanding the economic and environmental consequences of Deepwater Horizon oil spill and to determine appropriate...

Find Another Essay On Impact of the Deepwater Horizon Oil Spill on USA’s Environment and Economy

BP Deepwater Horizon Oil Spill Essay

2312 words - 9 pages . Klien, Joe. "Who's to Blame for the Gulf Oil Spill?." TIME.com. TIME Magazine, 27 May 2010. Web. 20 Nov. 2013. . National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling (January 2011). "Deep Water: The Gulf Oil Disaster and the Future of Offshore Drilling". US Government. Retrieved 18 November 2013.

BP´s Deepwater Horizon Oil Spill of 2010

1497 words - 6 pages aims to draw conclusions to the above questions and set forth recommendations to be considered in other similar oil drilling systems. Case background On April 20, 2010, BP-operated Deepwater Horizon oil rig exploded, claiming the lives of eleven people and injuring 17 others. The fire continued for 36 hours until the rig sank. Following the sinking, a sea-floor oil gusher flowed for 87 days, causing a spill of national significance (BP, 2010

Psychological Health Effects of Deep Water Horizon Oil Spill

2828 words - 12 pages resources loss has been associated specifically with long term psychological and mental health symptoms” (Sabucedo et al.2009), and existing data suggest that after disasters, mental health problems becomes prevalent after acute phase of the disaster (Van Den Berg et al. 2005). Grattan et al. (2011) examined the psychological impact of deep water horizon oil spill on some Florida and Alabama communities. Perceived psychological risk on fishing

The Impact of the Oil Spill on the Salth Marsh Habitats

1302 words - 6 pages A research published in the Elsevier Journal focused on the impact of the oil spill on the salt marsh habitats along the southeastern Louisiana coast. Satellite and ground data were used to assess two of the most important marsh biophysical characteristics, distribution of canopy chlorophyll content and above ground green biomass. Both were monitored during the salt marsh growing season (May–October) of 2009 (pre-spill) and 2010 (post-spill

The Impact of the Oil Crisis on the American Economy

5691 words - 23 pages The Impact of the Oil Crisis on the American Economy With the current spike in oil prices, many American consumers have asked, 'what is going on?' In order to fully understand the current situation and how it is affecting the economy one must look at a variety of factors including: the history of oil crisis in the United States, causes of the current situation, and possible outcomes for the future. It is only after meticulous research in

Analysis of the Impact of Oil Prices on the Global Economy

1197 words - 5 pages the main producer, being prepared to add or subtract production to balance demand. Moreover, Russia is another major producer of oil in the world. They usually produce more when demand more and subtract when demand reduce to control the price of oil. Anyway, speculator is another factor we have to consider in short run. From demand side of view, every country is trying to reduce the consumption on petroleum, the government use tax strategy to

What is the impact of oil price rise on various sectors of economy?

3044 words - 12 pages price of more than 21% in recent 4 years, various sectors of global economy are affected (IMF). The extent of direct effect of oil price rise depends on the share of cost of crude oil in national income, the degree to which it is consumed. It is easily understood that higher the oil price increase and longer the price sustains larger is its macroeconomic impact. Higher oil price leads to Inflation, increased input costs and lower investment in net

The Deepwater Horizon Catastrophe

2502 words - 10 pages Frequently leaders of organizations are challenged with making difficult decisions. It appears that British Petroleum’s (BP) decision making was focused on cost cutting, and not the employee’s safety, gulf residents, or the environment. The Deepwater Horizon catastrophe is a result of the systematic failure within a major corporation to be ethically and socially responsible to all stakeholders involved. The priority was corporate profits

The British Petroleum Oil Spill and Lack of Response

1527 words - 6 pages oil continued to devastate the land and water in the Gulf. Hayward often looked like someone who are unclear of the situation and/or how to proceed. That only fueled the problems BP faced and would move forward on containing the spill and the following follow up. (Luce, 2010) What should have happened was BP executives, be it Hayward or someone else, proactively come out and said what happened in the Gulf, what was being done and its progress

Oil Spill in the Gulf of Mexico

1043 words - 5 pages .”. This is excluding oiled birds that were seen but not collected or undetected. What I found interesting was that some of organisms that were affected by the oil spill were collected to compare and see if there are any changes from past generations. On April 22, the US National Response Team began. It was announced that Deepwater Horizon ring sinks in 5,000ft of water. Later that week, it was announced that 1,000 barrels of oil were leaking per

The Gulf Oil Spill

1271 words - 5 pages with the crude ended up stifled. The bayous and beaches of Louisiana — home to about 40% of the coastal wetlands in the continental U.S. — are uniquely vulnerable to an oil spill, especially during the spring breeding season (Walsh). The potential impact of the Deepwater Horizon oil spill could cost the U.S. coastal economies $22.7 billion over a period of three years (Oxford Economics). Many businesses are suffering from the spill; more

Similar Essays

The Deepwater Horizon Oil Spill Essay

1461 words - 6 pages On April 20, 2010, the Deepwater Horizon oil rig, located in the Gulf of Mexico exploded killing 11 workers and injuring 17. The oil rig sank a day-and-a-half later. The spill was referred to as the Deepwater Horizon oil spill, BP oil spill, Gulf of Mexico oil spill, and BP oil disaster. It was first said that little oil had actually leaked into the ocean but a little over a month later the estimate was 12,000-19,000 barrels of crude oil being

The Deepwater Horizon Oil Spill In The Gulf Of Mexico

622 words - 3 pages On April 20, 2010, the event of the Deepwater Horizon Oil Spill in the Gulf of Mexico caused 11 employees’ death, and around 35000 to 60000 barrels of oil were pouring into the ocean every day. Facts have been proven that any crisis must go along with the lack of risk management. Offshore oil drilling work is a high-risk occupation which requires strict obedience to the risk control management without any carelessness. In response to the

Deepwater Horizon Oil Spill In The Gulf Of Mexico

1006 words - 4 pages and causing the largest offshore oil spill in United States history. While the deeply human tragedy is already readily apparent – 11 dead and 17 injured – the full ramifications of the Deepwater Horizon disaster have yet to be realized. Beyond the economic and environmental impact, the Deepwater Horizon spill is likely to be an unprecedented incident for public health. Millions of gallons of crude oil have gushed into the Gulf of Mexico since

Deepwater Horizon Oil Spill In The Gulf Of Mexico

1211 words - 5 pages In the wake of one of the worst oil spills since the Exxon-Valdez disaster, a massive inquiry into the underlying cause of the Deepwater Horizon tragedy has begun. Many people are wondering if this was a case of poor engineering, corporate greed, negligence, or even simple operator failure. 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. In