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April 15, 2011

Bridging the Gulf a year on

It is nearly a year since the Deepwater Horizon rig explosion killed eleven crew members and resulted in 206 million gallons of oil pouring into the Gulf of Mexico until the BP well was finally sealed. This was one of the worst environmental disasters in U.S. history and was detailed in previous posts.

Although there is uncertainty about the severity of the long-term effects of the spill on the environment and the Gulf ecosystems, it is generally accepted by scientists that the major impacts of the Gulf spill will be addressed by the end of 2012 and the environment will begin to recover. Nonetheless, the clean-up continues on the Gulf coast beaches and although the environment may be in a recovery phase, the human cost continues as the perception of the disaster is slow to adjust to the reality.

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July 2, 2010

The Big BP picture

Filed under: Business & Management — Tags: , , , — Paul Clark @ 12:22 pm

Following on from my previous post on CSR and The BP oil spill, there is an excellent graphic representing the cost effects of the spill and the implications for BP on the visual economics site recently referenced on the economics blog. The full infographic can be found here. The graphic could be used as an excellent wall poster and contains the code to embed it in your school Business and Management resources.

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June 19, 2010

CSR (2) – Pouring oil on troubled waters

Filed under: Business & Management — Tags: , , , , , — Paul Clark @ 6:38 pm

BP has become the pariah of the oil producers operating in the USA and its CEO, Tony Hayward the hate figure and scapegoat for the present Gulf of Mexico oil spill. In a charged energy and commerce committee hearing this week Mr Hayward was subject to a sustained attack by US Congressman about his personal role as the chief executive and BP accused of “astonishing corporate complacency” and “one of the most shameful acts by a corporation in America’s history” because they cut “corner after corner”.

Should we accept these statements and the vilification of Hayward? Certainly the incident is raising tension between the US and UK governments, but to what extent should a company act responsibly and ethically, if that increases its costs, and to what extent should the chief executive be held responsible for the acts of the business, whether or not that person was involved or aware of the particular actions? In other words where does the ‘buck stop”?

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