Gulf Oil- suggested approach. Value the economic benefits associated with a decision to eliminate the exploration and development activities of the Gulf Oil Corporation. A key question is how Socal can justify a huge premium over market value to acquire Gulf. A key objective is to understand the shareholder value implications of a corporate strategy built around investing huge amounts of capital in activities that promise largely negative net present values. Place a specific value on Gulf’s
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animal or contaminate its tissues. A thick film of oil on the sea surface may reduce sunlight penetration and reduce photosynthesis. Small particles and emulsions may be ingested or block the feeding mechanisms of invertebrates such as oysters‚ starfish‚ sponges and corals. These particles also may have toxic components‚ so the effects can be physical‚ chemical or both. The most dramatic impact of oil spills is the coating of larger animals with oil. Animals that breathe at the surface like dolphins
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Crew member onboard the Deepwater Horizon oil rig were awoken the morning of April 20‚ 2010 to the sound of multiple explosions. The Deepwater Horizon rig was positioned in the Gulf of Mexico about 40 miles off the coast of Louisiana. It was positioned about 5‚000 feet above the seabed and the oil pipe extended another 18‚000 feet into the rock below. It was owned and operated by Transocean and leased to BP. There were 127 crew men onboard the rig at the time of the explosion. The crew man began
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Oil Spill Clean-up: Lab Report Description There are various methods for cleaning up oil spills. Some methods allow oil to be recovered‚ whereas others do not. Some methods are more expensive than others‚ some are more efficient than others‚ and some have more of an environmental impact. Regardless of the method used‚ cleaning up oil spilled on water is a very time-consuming and difficult task. In this activity‚ you will model various methods used for cleaning up an oil spill on water. Material
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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 the Gulf. There are many concerns
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The controversial methods and actions of oil companies to extract/transport their products‚ such as fracking‚ have to be banned and prevented immediately and companies must find more efficient and environmentally-friendly ways to extract/transport these natural resources in order to keep the environment safe. With methods such as fracking being used to excavate the oil that is used today‚ damage done to the environment and different species of animals is inevitable with controversial methods. As
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The Economic Impact of the BP Oil Spill In April of 2010‚ a British Petroleum operated oil drilling rig off the Gulf of Mexico‚ the Deepwater Horizon‚ exploded suddenly after high pressure methane gas from the oil well rose to the drilling rig‚ causing it to ignite and then sink to the bottom of the ocean floor. The explosion caused a sea-floor level oil blowout‚ and crude oil was leaked into the surrounding water for three months before a solution was found. After eighty-seven long days‚ the wellhead
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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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In 2010‚ the Gulf of Mexico was the largest ever recorded dead zone of 7‚700 square miles. Seven years later‚ the zone is still growing; the Gulf’s dead zone is now up to 8‚776 square miles‚ larger than the size of New Jersey. The dead zone is caused by excess nutrients entering the water. Iowa’s waters are polluted by different causes affecting humans‚ and the growth of organisms. Agriculture and nutrient runoff can cause algae to overpopulate an area‚ using up more oxygen‚ leading to not enough
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The mineral rights to drill for oil at the Macondo well‚ were purchased by BP at the Minerals Management Service’s (MMS) Lease Sale No. 206‚ held in New Orleans. June 22 – Mark E. Hafle‚ a senior drilling engineer from BP‚ warns that the metal casing for the blowout preventer might collapse under high pressure Deepwater Horizon drilling rig company‚ owned by Transocean‚ begins drilling on the Macondo Prospect. The planned well was to be drilled to 18‚000 feet below sea level‚ and was to be plugged
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