Research Paper on the BP Gulf Oil Spill

Research Paper on the BP Gulf Oil Spill Research Paper example
Research Paper
Finance & Accounting
Pages 16 (4016 words)
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1 Chapter 1 4
1.1 Introduction 4
1.2 Nature of the Issue 5
1.3 Research Question 6
1.4 Research Objective 7
2 Chapter 2 8
2.1 Literature Review 8
2.1.1 Theory of Externalities 8
2.1.2 Cost-Benefit Analysis of the Clean-up 10


2.1.4 Financial Implication of the Oil Spill 14
3 Chapter 3 15
3.1 Research Methodology 15
3.1.1 Research Framework 16
3.1.2 Data Collection 16
4 Chapter 4 17
4.1 Discussion and Findings 17
5 Chapter 5 18
5.1 Conclusion 18
5.2 Recommendation 19
5.3 Limitation 19
References 21
Appendices 23
1 Chapter 1
1.1 Introduction
An oil spill is the accidental release of liquid petroleum hydrocarbon into the marine areas due to human negligence and is one of the major causes of sea water pollution. Despite the improved technologies to prevent crude oil spills in the marine environment the accidents continue to occur. The recent case of a large oil spill is the 2010 Deepwater Horizon incident in the Gulf of Mexico for which several companies were responsible to varying degrees and BP was the most prominent party to the incident. The worst oil spill U.S. faced before this Gulf Oil Spill was Exxon Valdez in 1989 in Alaska (Ramseur & Ramseur, 2011, p.1). On April 20, 2010, the oil drilling rig at Deepwater Horizon of BP was near completion when the uncontained release of oil and natural gas caused explosion resulting in the largest oil spill in U.S. waters and killing 11 people and injuring 15. Nearly 200 million gallons of oil was released into the sea over approximately 84 days. However the oil leak was discovered four days after the explosion when BP sent a team of experts to cover the source of leakage. ...
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