BP Oil Spill
One of the most devastating and environmentally hazardous events of the 21st century occurred on April 20, 2010 when an explosion in the Deepwater Oil rig which is also known as the BP Oil spill led to the death of 11 men and injured another 17. The disaster where on one hand marked the most destructive and obliterating event in the petroleum history, simultaneously brought two close allies in an economic confrontation to each other. (Szabo, 2010)
Details of the Spill and Aftermath
The incident that took place in the Gulf of Mexico which is near to Mississippi river delta led to the spill of over 4.9 million barrels of oil along with the massive financial expenditure that the incident has caused on the already weakening and deteriorating state of the British economy and the British oil giant multinational corporation. After time consuming discussions and meetings of over two months it was decided that the well must be capped in order to prevent any further discharge of oil into the river. The capping of the well took place on the 15th of July after which it was estimated that over 62,000 barrel of oil was being discharged into the river per day.
Once the initial scene of damage was assessed, it was now time to move to the other picture of the incident which was much more horrifying and gruesome than to the blabbing news anchors of talk shows or sensationalizing headlines of newspapers. As subsequent events unfolded it came into intelligence that the adverse environmental ramifications that the catastrophe has imposed are much more severe and gravitating in nature than what were being anticipated initially.
Satellite images obtained by NASA revealed massive oil slicks at the places of the river where the event has taken place. For the first time it seemed to the entire world that the relations between two forever allies, UK and the US will soon switch towards a different mode as more damage and their subsequent repercussions are unveiled. The US government after conducting a transparent probe of the entire incident declared BP as being solely responsible for the environmental damage that occurred. (Bullard, 2010)
Effects on BP
In a series of meetings that were held between US government officials and BP kingpins, it was agreed that BP will take the responsibility of weathering and effectively countering the environmental aftermath of the disaster. Chief Executive Officer of BP Tony Hayward and Chairman Charles Swanberg in an address acknowledged the mistakes that occurred at the management front ultimately leading to such a destructive incident and also apologized to the American nation for the damage that they will have to bear.
The organization also agreed to pay a peanut compensation of $20 billion for the damage that had occurred and is now affording the $8 billion expense budget to effectively manage the cleaning and purification processes of the river. Other news for BP was not good as well as its share values dipped steeply after the incident as consumer and shareholder credibility began to erode. It was noted that the share price value of the company nosedived by almost 52% after the disastrous episode first became the breaking news for news media all over the world. (Daily Telegraph, 2010)
Effects on the US
Even though the financial expenses of the disaster are being endured by the organization, it is basically the American nation and government that is going to encounter the intangible forms of massive expenses of extremely grave nature. There are two prominent effects that are being observed at present, first are the extensive and widespread environmental and ecological effects that the disaster has left as its remnants, in the form of forming thick and insoluble layers of oil on the surface of the river.
Moreover, the oil spill is very likely to affect the states of US whose economy is primarily based on the influx of tourists and tourism, as the repercussions of the oil spill proliferate from one corner to the other, it is most likely to affect tourist response and approach before visiting places like Florida and Mississippi which used to be flocked with tourists from all over the world during this season.
Another area where the effects are likely to develop in a rather subtle form is that many of the states and their respective areas which have been chosen for the construction of landfills and dumping of contaminated marine waste are areas which are abided by the black community. According to some of the statistics which have been reveled so far it has been estimated that over 56% of the waste has been dumped in areas where residents are primarily African American in terms of racial origin. These include Lousinsia, Alabama, Florida and Mississippi which are bearing the greatest pinch of the ecological meltdown that has occurred because of the oil spill. Sources further reveal that out of the many landfill sites created in Lousinsia 75% have been filled by the toxic and highly lethal waste of the BP oil spill. (Bullard, 2010)
It can only be hoped that the US government does not leave them helpless and in despair to counter such dangerous implications on their own, but provides every possible financial and moral support and assistance to its people to collectively overcome the tragedy and its associated repercussions. (Szabo, 2010)