INTRODUCTION Upon the evening of April 20th‚ 2010‚ a series of deadly explosions occurred within the oil rig giant‚ Deepwater Horizon‚ an immense offshore drilling platform‚ located 40 miles off the Louisiana coast (Steffy‚ 2011). These explosions were due to a defective blowout preventer and numerous gas leaks seeping up and through the well to the riser pipe‚ connecting to the rig‚ igniting fire. The efforts of attempting to save this flame ridden platform was lost on April 22‚ 2010‚ for the rig
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EFFECTS OF THE DEEPWATER HORIZON OIL SPILL ENEE 501 – POLLUTION PREVENTION AND CONTROL FOR THE ENERGY INDUSTRY HARJOT BHANDAL 10106493 TABLE OF CONTENTS ABTRACT 3 INTRODUCTION 3 BACKGROUND 3 ANALYSIS 5 CAUSE OF THE EXPLOSION 5 ENVORNMENTAL EFFECTS 6 ECONOMIC EFFECT 7 CONCLUSION 8 REFERENCES 9 ABSTRACT On the 20th of April 2010‚ a tragic event occurred just off the coast of the Gulf of Mexico. British Petroleum’s Deepwater Horizon oil rig exploded resulting in millions
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considerations are measurement issues. Financial measures‚ in particular‚ cost measures‚ are needed to evaluate alternate strategies on whether to introduce a new product or service line‚ to determine the appropriate sale price and the consequent market position for the firm’s product. Question 1) “Contribution” represents the portion of sales revenue that is not consumed by variable costs and so contributes to the coverage of fixed costs. To compute profit contribution that can be earned by carrying 1
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Deepwater Horizon Oil Spill Damage April 20‚ 2010 began as a day of celebration‚ a day that marked 7 years without injury on the Deepwater Horizon oil rig‚ and ended with 11 people dead‚ 78 days of oil flow‚ and 1‚074 miles of the Gulf of Mexico contaminated. Three years after the Deepwater Horizon Oil Spill the beaches may appear clean but we have yet to see the final effects. BP‚ the company behind this tragedy‚ is still trying to clean up the mess they have created. This is a lot more complicated
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Average Variable Cost : 2002 $1‚011‚008** **$417‚004+$124‚101.20+$117‚903+$351‚000 2003 1‚142‚681.00** ** $520‚069+$171‚622.70+$79‚888+$371‚101 2004 1‚798.131.00 ** ** $915‚787.50+$320‚525.52 +$115‚999+$445‚819 Total $3‚951‚820.00 No.of Years 3 Average VC $1‚317‚273.00 Average Customers 8‚202.00 Average VC per unit $161.00 Fixed Cost $174
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INTRODUCTION Due to the very nature of oil resources‚ the environment is invariably affected. The first way in which the environment is affected by the oil industry is through both the drilling and the transportation processes. The chemicals used in the drilling can be harmful to the environment‚ drilling itself poses a great danger‚ for instance in case of an oil spill (as the Deepwater Horizon oil spill showed)‚ and as the Exxon Valdez disaster so evidently portrayed‚ transportation can be equally
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The Exon Valdez oil spill disaster occurred on March 24‚ 1989. This was the most devastating human-caused disaster in the United States history until twenty-one years later when The Deepwater Horizon occurred on April 20‚ 2010. Both disasters had a deadly effect on environmental life. These two incidents linked individuals taking shortcuts and being overconfident. Catastrophes do not happen by accident; something has to trigger them. Three main reasons why the disaster at Deepwater Horizon occurred:
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1 In a process cost system‚ product costs are summarized: on job cost sheets. when the products are sold. after each unit is produced. on production cost reports. What decision criteria should managers use in selecting projects when there is not enough capital to invest in all available positive NPV projects? the internal rate of return the discounted payback the profitability index the modified internal rate of return 3 Horizontal
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activity. True False 2. In a performance report‚ actual costs should be compared to budgeted costs at the original budgeted activity level. True False 3. The overhead spending variance and the overhead efficiency variance are useful only if variable overhead really should be proportional to the activity measure that is being used in the flexible budget. True False 4. The variable overhead efficiency variance reflects how efficiently variable overhead resources were used. True False 5. A reason
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CHAPTER 12 PRICING DECISIONS AND COST MANAGEMENT 12-1 The three major influences on pricing decisions are 1. Customers 2. Competitors 3. Costs 12-2 Not necessarily. For a one-time-only special order‚ the relevant costs are only those costs that will change as a result of accepting the order. In this case‚ full product costs will rarely be relevant. It is more likely that full product costs will be relevant costs for long-run pricing decisions. 12-3 Two examples of pricing decisions with
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