Strategic Analysis

2648 words - 11 pages

Strategic AnalysisAn Exploration of The Deep Water Horizon Oil Spill TragedyName:Date:Lecturer: IntroductionThe British Petroleum oil leak accident is considered as one of the biggest accident of its nature in the United States history and therefore one of the largest man-made cataclysms with colossal negative influence on the environment. An explosion of the Deepwater Horizon oil rig led to an oil gusher on the 20th April, 2010. The explosion was triggered by the rising and expansion of methane gas in the well in the early hours that morning. The high pressure methane gas ignited, leading to the massive explosion. Two days later, the Deepwater Horizon rig finally submerged in its entirety.This paper aims at analyzing the oil spill accident by British Petroleum from an economic, social and environmental viewpoint. This report will include probable roots and the circumstances of the occurrence and exploration of them, whether it is the failure of safety engineering, safety management system of the company or fault stemmed by the human dynamic of employees of British Petroleum. The analysis was also done by assessing the accident risk level. Moreover, the financial implications of the accidental oil spill, the effects on the adjacent human population as well as the effect on the vegetation and wildlife in the Atlantic Ocean is also dealt with in details. Oil-Spill Accident Analysis Description of the AccidentAs per to the Deepwater Horizon Accident Investigation Report (2010), hydrocarbons in the semi-submersible drilling rig escaped because of loss of hydrostatic control of the Macondo well into the Gulf of Mexico. This inadvertently led to the explosion of the rig. The fire stemming om the explosion kept on burning for approximately 36 hours and almost 5 billion barrels of oil leaked into the Gulf of Mexico (Gossens, 2012). It required 47 829 people, 9 700 vessels, 127 aircraft, and roughly 2 million gallons of toxic dispersants to avert the leakage of oil and additional destruction (Center for American Progress, 2012). The spillage was ultimately stopped on July 15th, 2010, nearly 3 months after it went into flames.Consequently, the explosion led to the loss of 11 personnel while 17 others were seriously injured. The tragic loss of lives and severely annihilation of property prompted instantaneous inquiries by Homeland Security and Department of the Interior. There was no swift alarm about oil being leaked from the damaged oil well. A robot which was controlled remotely, was sent underwater to assess the damage but no oil was found leaking. Assuming that the worst was over, British Petroleum reported that approximately 1000 gallons of oil were leaking every day. This number later increased to 5000 gallons per day, according to the U.S Coast Guard.Efforts by the British Petroleum to cap the gushing oil leak were proving fruitless and the nation's attention was focused on the Deepwater Horizon. There was an overall sense of powerlessness and on...

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