Business Ethics. Bp Oil Disaster †“Deepwater Horizon Oil

Business Ethics BP Oil Disaster – â€Å"Deepwater Horizon Oil Spill† Thelma P. Eldridge Business Law – BUS 2301.88 Spring 2017 April 25, 2017 In today’s business world, businesses are subject to the laws of the country in which their company was organized and operates. Business owners are to conduct themselves and their affairs ethically and owe some degree of social responsibility for their actions. Ethics, although not law, is a set of moral principles or values that govern the conduct of an individual or a group (Cheeseman 132). Immanuel Kant, a well-known German Philosopher, believed the human mind creates the structure of human experience, that reason is the source of morality (Kant). He also believed that people owe moral†¦show more content†¦If not met or if the business fails to completely meet this responsibility, changes are usually implemented. These social responsibilities and many other ethical issues were realized by many people when on April 20, 2010 British Petroleum had a major oil spill in the Gulf of Mexico. Also, known as the Deepwater Horizon Oil Spill, the BP Oil Disaster, the Gulf of Mexico Oil Spill, or the Macondo Blowout. BP was mostly at fault, but Transocean, the rig operator, and Halliburton, the contractor, had some culpability as well. This oil spill was the worst in US history and could be seen from space. The United States Government estimated that it was approximately 4.9 million barrels (210 million gallons) that poured into the ocean. To this day, researchers and scientists are gathering data to try and understand the oil spill and the impact it’s had on the Gulf coast, it’s communities and marine life. The well was capped off on July 15, 2010, which was eight-seven days after the explosion and sinking of the oil rig and was declared sealed onShow MoreRelatedThe Planning Function at BP1307 Words   |  5 PagesThe situation at BP is that the company is working to shake off the effects of the Deepwater Horizon disaster. While that issue remains in litigation, the company is continuing onward with its operations, building out its revenues and exploration capacity. The company has remained consistently profitable (MSN MoneyCentral, 2012). The general operating environment is positive, given the oil prices are relatively high and oil prices are a critical determinant of profitability. Oil currently tradesRead MoreArgumentative Essay : Bp Oil Spill1558 Words   |  7 PagesArgumentative Essay: The BP Oil Spill Phillip Staton PHI 445 Personal Organizational Ethics Prof. Gloria Zuniga y Postigo February 29, 2016 Argumentative Essay: The BP Oil Spill Introduction In 2010, BP’s Deepwater Horizon rig exploded, causing millions of barrels of crude oil to be leaked out into the Gulf of Mexico. The extensive oil spill created a lot of pollution and far-reaching effects on the tourism industry. The resultant damage to marine wildlife such as fish will continue to be feltRead MoreBp Oil Spill : Business Law1601 Words   |  7 PagesMISERICORDIA UNIVERSITY BP Oil Spill Business Law Evans, Rebecca 10/23/2015 This paper includes information regarding the BP Oil spill. References are listed at the bottom. â€Æ' Currently headquartered in London, BP is one of the largest producers of both oil and natural gas. BP provides its customers with fuel for transportation and energy for heat and light. BP’s core business is gas exploration and production division and their main sources of production include Angola, Argentina, AustraliaRead MoreMultinational Gas And Oil Company1624 Words   |  7 Pagesconducting business. Beyond Petroleum is a multinational gas and oil company based in the United Kingdom. Operating in over 80 countries and producing around 3.4 million barrels of oil a day, BP is the third-largest energy company in the world behind Exxon Mobil and Royal Dutch Shell. The company is involved in all aspects of the process including exploration, production, refining, and distribution. The largest division is BP America with 16 total refineries and the more leases on oil rigs in theRead MoreBp—Deepwater Horizon Case Study Ethics1883 Words   |  8 Pages------------------------------------------------- BP—Deepwater Horizon Case Study INT1001 Study Skills Module Reading and Writing Skills—Summative Assignment Done by: Mew Hui Ying ------------------------------------------------- Date: 12 February 2013 ------------------------------------------------- Industry: Oil and Gas ------------------------------------------------- Company: British Petrol Contents Page NoRead MoreBp Deep Water Horizontal Explosion3148 Words   |  13 PagesINTRODUCTION BP originated from a British petroleum company founded in 1909. After experiencing crises during the 1980s-1990s, the company started to have a cost cutting culture. During mid-1990s, with an aggressive growth strategy, BP started to grow and reposition. After BP merged with Amoco in 1998, John Browne started to serve as chief executive until May 2007. Browne repositioned BP as a â€Å"green† oil company after he took over and practiced the model of organizational decision-making strategyRead MoreBeyond Petroleum ( Bp )1192 Words   |  5 PagesBeyond Petroleum (BP) formerly British Petroleum is a company that claims to be devoted to finding new energy sources with little impact on the environment. Ferrell, Fraderich, and Ferrell, explain in their Business Ethics textbook in 2012 that after several environmental tragedies in the mid-to late 2000’s, the company had to reassess their ethical standards and make changes to repair their image and regain the confidence of t heir stakeholders. During this time, they began investing in wind, solarRead MoreBp s Improve Sustainability And Its Reputation For The Deepwater Horizon Disaster1620 Words   |  7 Pagesgas station BP. D’Arcy had a thrill over oil and decided to invest all of his savings in the quest for oil in the Middle East. Experts and scientists helped encourage D’Arcy to pursue the venture. But years started to pass and funds starting to run low, William was starting to feel as if this was the wrong investment. Throughout the years BP has gone through a plethora of ups and downs. From bankruptcy, to not being able to transport oil to desired location, and also having more oil than they couldRead MoreBp The Deepwater Horizon Oil Spill Of 2010758 Words   |  4 PagesPrior to the Deepwater Horizon oil spill of 2010, BP had a positive reputation for promoting corporate sustainability and creating sustainable energy. In the wake of the oil spill, however, BP proved that it was n ot on the right track despite the proclamation to its constituents of the exact opposite. There is a popular adage â€Å"almost doesn’t count.† BP’s investment in research directed toward minimizing negative environmental impact while conducting business and accomplishing major undertakingsRead MoreThe Ethical Issues Of Bp3305 Words   |  14 PagesIntroduction BP, formerly known as British Petroleum, is the third largest oil and gas producer in the world, producing almost 3.8 million barrels per day. BP was founded in 1908 by William Knox D’Arcy in London, United Kingdom. The company operates worldwide in several sectors of the oil and gas industry such as generating low carbon energy, moving oil and gas, and off and onshore oil and gas extraction (BP, 2014). However, the offshore Deepwater Horizon oil spill that happened on April 20th, 2010