liability for cleanup costs to companies responsible for major spills and also required thicker oil-tanker hulls. And while the Deepwater Horizon rig exploded in a far greater body of water‚ it ’s also much closer to densely populated areas. That ’s why this spill is sure to prompt new safety‚ oversight and liability regulations for offshore oil drilling--and has already undercut Obama ’s proposal for expanding that industry. Mimi‚ H. (2010‚ June 16). Apologetic BP pledges $20B. USA Today‚ Retrieved
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considered to be the largest accidental marine oil spill in the history of the petroleum industry. The spill occurred in the Gulf of Mexico on April 20‚ 2010. The spill was the result of the explosion of the Deepwater Horizon offshore drilling rig. When the rig exploded‚ it created a sea-floor gusher of oil that flowed freely for three months. It resulted in 11 people killed and 17 others injured. In addition to the injuries and loss of human life‚ there were detrimental impacts to the environment
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In this assignment‚ I am required to write an analysis of the main forces driving the market for any specific product of my choice. For me to successfully complete this task‚ I have to first pick a product‚ one that I am interested in‚ discuss the long term forces driving demand and supply‚ discuss the position of the main substitute products and producers‚ look at past data and explain what has occurred to change the price and finally will the producer be profitable in the future? I have chosen
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force underground to open further. This is commonly used on oil rigs and wells when searching for oil. I believe that fracking is helping us more than hurting us. These are the three reason I think it is helpful. Fracking increases the rate at which water‚ petroleum or natural gas can be recovered from subterranean wells.Fracking as a method for oil and gas extraction is also more economically viable than conventional or horizontal drilling. The last reason is that the process has driven down gas prices
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2 British Petroleum’s Roll in the Gulf Oil Spill This paper will explain some of the effects of three legal issues and three ethical issues surrounding the London-based British Petroleum Company’s involvement in the explosion of the offshore oil rig Deepwater Horizon and the subsequent oil spill into the Gulf of Mexico. There are many legal issues surrounding this disaster‚ but the three this paper will focus on are the Oil Pollution Act of 1990‚ maritime laws‚ and criminal charges that may be
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and will not yield. Who is Responsible? BP is responsible for the disaster and should be held fully accountable for all economic retribution financially and environmentally. The oil rig was under contract by BP and according to the Oil Pollution Act of 1990 it stipulated that those parties responsible for the rig or facility which oil is being discharged from—is the responsible party held liable for cleanup costs. The conflict revolves around the fact that BP failed to clean-up the oil after
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to save our planted from more damage‚ then the government needs to act now. The United States offshore drilling debate is still ongoing‚ and the argument is that the United States benefits because it becomes less dependent on imported oil. There is also the argument that offshore drilling would affect military training and weapon testing. However‚ my argument is that offshore drilling poses a much greater threat to all civilization. When waste is spilled into the ocean it spreads throughout
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On April 4‚ 2010 a huge explosion of the Deep Horizon oil rig occurred in the Gulf of Mexico Near Louisiana. Fifteen out the of one hundred fifty men who were on board were injured. Approximately two days later‚ the rig sang and oil began spewing. The oil leaked for over one hundred days. The BP oil disaster in the gulf has posed a threat on the people and the environment that surround the oil spill. The effects of offshore drilling can be catastrophic‚ especially after seeing what has happened in
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to quadruple. As America attempted to promote alternative energy sources‚ oil companies expanded their search for offshore oil. Approximately 25% of oil produced in the U.S. comes from offshore rigs. Due to environmental concerns following an oil spill off the coast of California in 1969‚ an offshore drilling suspension was put in place. Since
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economy. In November‚ India signed a memorandum of understanding with the U.S. Geological Survey for technical assistance to assess shale gas resources and advance energy cooperation between the two countries. ONGC‚ India’s largest upstream player‚ is drilling a series of pilot shale gas wells in the Damodar basin. Reliance Industries‚ the country’s biggest gas producer‚ recently spent $3.5 billion on three shale gas projects in the United States – some say the deals were as much to acquire shale gas technology
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