StudentShare solutions
Triangle menu

Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil - Research Proposal Example

Not dowloaded yet

Extract of sample
Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil

The world’s most sophisticated drill rigs, known as The Deepwater Horizon, was degraded to a mass of burnt metal in a split of seconds (Peppas, 2011). The rising demand for oil over the years meant that companies were drilling even deeper into the sea in an attempt to drill more oil. The oil spill occurred at a time when the industry was least expecting it; industry experts has speculated that the chance of an explosion was less than one percent (McCoy & Salerno, 2011). However, the incident painted an entirely different picture; thousands of individuals were cleaning up the oil spill, with thousands of devices screening the blowout. Discoverer Enterprise, the drill ship, howled loudly as it vent out methane gas that shot from the runway well (Peppas, 2011). Another rig, Q4, 000 which burnt oil and gas, simultaneously exploded (Peppas, 2011). What made matters worse was that the waters of the gulf were very difficult to reach; the terrain is very rough marked by canyons, ridges and volcanoes (Farrell, 2011). The deposits lay buried under the salt ridges under the sea that were vulnerable to earthquakes. Furthermore, the temperatures underwater were freezing whereas the temperature of oil reservoirs was around 400 degrees (Upton, 2011). Economic concepts/approaches to be used in the research The economic concepts/ approaches to be involved are as follows: The concept of negative externalities: This concept explains the impact of individuals and/or corporations on a third-party (Hackett & Moore, 2011). They can be negative or positive; however, in this situation the externalities are likely to be negative rather than positive. Negative externalities shall revolve around the following : Damage to marine life Damage to local fishermen Damage to the coastal area’s economy Damage to U.S’s exports Damage to locals who inhale the toxic fumes Damage to individuals who consume the contaminated seafood Cost Benefit analysis of the clean up: This concept shall arise when the company involved decides to arrange for a cleanup of the oil spill as well as compensate the families of the deceased or affected people. BP shall have to weigh the private versus social costs and benefits associated with the remedies it take which shall be explored in the main research. As economic theory suggests the decision that BP takes may not be socially desirable because of corporations’ self-interest and focus on maximizing private net benefits rather than maximizing social net benefits (Ramseur & Ramseur, 2010). Expected findings/outcomes The findings expected are: Increasing unemployment- What shall be the impact on businesses whose earnings were tied to the Gulf of Mexico? Increasing government deficits in the region- What shall be the impact on fishermen who no longer have a source of income? Increase in national deficit- The deficit is expected to exceeding $2 million (Landau, 2011) Inflation in prices of agricultural products Higher taxes- Politicians can use this opportunity to charge higher taxes on an already troubled population Ecological damage to Louisiana coast Damage to marine life- Oil has swept deep into the sand which is the breeding ground for most fruits and vegetables. If the oil isn’t cleaned up it can lead to intoxicated vegetables and fruits that can contaminate human life. Also toxic fumes have penetrated deep into the sea bed that can harm marine life, including fishes, disturbing their entire ecological system ...Show more

Summary

Research Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spill Customer inserts his/her name Customer Inserts 11th November, 2011 Nature of the Issue The issue that this research shall attempt to investigate is the Gulf Oil Spill…
Author : clotilde64
Research Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the research proposal on your topic
"Research Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil"
with a personal 20% discount.
Grab the best paper

Related Essays

Gulf Currency Union
This paper is a research proposal, whose goal is to estimate the effects of GCU on Saudi Arabia. A brief discussion of the research goal and objectives is included. A brief literature review is provided. The research proposal offers a brief discussion of methodology, concepts and terms.
6 pages (1500 words) Research Proposal
Exploring the impact of e-commerce adoption on management strategy in Gulf Cooporation Council Countries(GCC) Enterprises
The groundwork for this phase has already been done, since the Kingdom has negociated entryto the WTO and is steadily reforming and updating the legal system, banking rules and employment law in readiness for more participation in global market places. E-commerce has just begun to have a presence in the last few years but it is still uncertain how far it will be permitted to permeate Saudi Arabian business life.
7 pages (1750 words) Research Proposal
Financial accounting Research Proposal
The framework for the preparation and presentation of financial statements is ultimately used for corporate reporting. Therefore, it's important for the financial statements to contain useful information, comply with the international accounting standards and to meet the common need of its users.
11 pages (2750 words) Research Proposal
Research paper Research Proposal
2 pages (500 words) Research Proposal
Critical Research Paper Influences Paper
." "When I waѕ a boy, there waѕ but one permanent ambition among my comradeѕ in our village on the weѕt bank of the Miѕѕiѕѕippi River. That waѕ, to be a
7 pages (1750 words) Research Proposal
Sarbanes Oxley Research Paper
Enron, Worldcom, Adelphia all went bankrupt and other cases such as the Tyco scandal left people breathless at the irresponsible behavior of the executives in charge of the companies regular people
5 pages (1250 words) Research Proposal
Quanitative Research Method Paper
In other words the legally defined work place relationship between the employer and the employee has become rather individualistic to a greater extent
5 pages (1250 words) Research Proposal
Gulf Currency Union
A brief literature review is provided. The research proposal offers a brief discussion of methodology, concepts and terms. Gulf Currency Union is a popular object of professional discussion. Much has been written and said about its benefits and potential
6 pages (1500 words) Research Proposal
Comparison of training and development programs implemented in National Oil Corporation & Arabian Gulf Oil Company for the fresh graduate nationals
This paper compares and contrasts the training programs of the two giants and finds out the relative strength and weakness of the training programs of the two companies to access their
16 pages (4000 words) Research Proposal
Dissertation Prospectus (Proposal) - Public Health
on of the Diagnostic and Statistical Manual (APA, 2013) of Mental Disorders (DSM-5), Eating Disorder illnesses classification is Anorexia-Nervosa (AN), Bulimia-Nervosa (BN) and Binge Eating disorder (BED). Lack of awareness for diseases like ED is the greatest enemy for
8 pages (2000 words) Research Proposal
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation