Oil Drilling Regulations British Petroleum - 1461 Words

Oil Drilling Regulations British Petroleum(BP) had a massive oil spill on April 20, 2010. In the BP Oil Spill, more than 200 million gallons of oil was spilled into the Gulf of Mexico for a total of eightyseven days, making it the biggest oil spill in United States history. The initial oil rig explosion killed eleven people and injured seventeen others(â€Å"11 Facts†). The spill killed hundreds of animal, plant life and destroyed the environment. BP was penalized up to $40 billion in fines. Stricter regulation on all forms of oil drilling are necessary to protect everyone and everything involved, especially the environment. When drilling for oils, companies need to have regulations and one of those requirements is for environmental protection. This is a requirement that conducts operations in a way, that protects mineral resources, other natural resources. The companies need to be paying attention to the environment and what is affecting the environment. The companies have to inspect the land and determine what material is being drilled. (University of Colorado). The regulation issuance of leases gives terms and conditions that the Bureau of Land Management (BLM) can grant leases. The issuance of an oil lease must be done under oath by an applicant, agent, attorney, or an officer or agent of the company, if the lease is made by a company. That way they are not drilling illegally. For the onshore oil and gas order approval of operations the companies need requirements forShow MoreRelatedBp Oil Spill Globalization1062 Words   |  5 PagesThe 20th of April 2010 will be marked as the worst day in British Petroleum PLC’s history, the day that there was an explosion on the Deepwater Horizon drilling rig whilst drilling in the Gulf of Mexico, killing 11 people and causing devastation to all the surrounding areas. The events of this day affected the global markets and relationships between countries substantially.  ¹Daniels et al. (2009) states that globalisation is â€Å"The broadening set of interdependence relationships among people fromRead MoreThe Bp Deepwater Horizon Disaster1006 Words   |  5 PagesCompliance and Regulation To maintain expected business practices, governments enact regulations through legislation as a means of ensuring that businesses operate within expected guidelines. Some regulations are proactive, such as Bill 198 (Better known as CSOX, the Canadian version of the Sarbanes and Oxley Act) which places additional expectations on the reporting and auditing of company financials (PriceWaterhouseCoopers, 2004). Other regulations are reactive; such as bill C45 that passedRead MoreOffshore Drilling Essay1518 Words   |  7 PagesAmerica’s economy is heavily based on petroleum, as though it is the nation’s blood; a necessity for survival. 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The purpose of writingRead MoreBritish Petroleum ( Bp ) Oil Company1737 Words   |  7 Pages British Petroleum ( BP) Oil company, is one of the world s biggest global oil company that has had a track record of continuously wrecking and damaging multiple economies. BP is based in London, it was founded in 1908, originated in the northern eastern hemisphere from Persia . BP merged with Amoco and works with Transocean,and Halliburton, BP has been at fault for quite a few oil leaks, explosions, Safety Lapses, refinery explosions, and the list goes on, and they have just repeatedlyRead MoreThe Oil Spill in the Gulf of Mexico1155 Words   |  5 PagesPrinciples Environmental Science Introduction Rig of the drilling Deep-water Horizon operated under British petroleum failed in its operation sinking below the seawater of the Gulf of Mexico on the 20th of April 2010. More than 11 workers lost their lives. After this incident, tons and tons of oil gushed from the main opening of the well, buried 1600 meters below the sea level. Necessary steps have been taken to take control on the spill but still there is much to handle when it comes to theRead MoreThe Deepwater Horizon Mobile Offshore Wells Exploratory Platforms1537 Words   |  7 Pagesof Mexico, operated by British Petroleum, on April 20, 2010, or known as BP oil spill. The BP oil catastrophe ignited due to high-pressure methane gas by drilling a deep exploratory at Macondo well, reported by Up Stream Online news. The Gulf of Mexico oil spill still outlasts as a great size accidental marine oil spill in the records of the petroleum industry. The date, report details, and location were based on a doctrine of New York Times. Multiple consequences of BP oil spill include businessRead 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 MoreWhy The British Petroleum Was Responsible For The Accident1404 Words   |  6 Pages No doubt that the Deepwater Horizon oil spill was one of the worst and the largest oil in the history of the world. In the following essay we will discuss about the various aspects related to the accident and find out whether if the British Petroleum was responsible for the accident. BP or British Petroleum is the largest corporation in the United Kingdom and is an international company that operates in oil, gas and chemical industry. The company is headquartered at London. It owns various refineriesRead MoreAmerica s Drilling For Oil3209 Words   |  13 Pageshave been drilling for oil for more than half of their existence. Before the 1850’s oil was of little use and had no market for commerce as there was not one overwhelming use for it. Until around the 1850’s, when technology advanced, with it sparking search for one of the most sought after natural resources that countries would later go to war over, petroleum oil. Early inventions like the kerosene lamp provided a new stable home necessity to live by, increasing the demand for crude oil. This would