The oil spill of BP in the Gulf of Mexico can be considered to be one of the worst oil spills in the history of mankind. In this oil spill there was explosion and thereby the sinking of the Deepwater Horizon oil rig. As a result of this oil flowed into the sea for almost 87 days and the approximate volume was 200 million of gallons of oil. The explosion led to death of 11 workers and injured of 17 of other workers. This oil spill affected 16000 miles of the coast line. Approximately 8000 of the animals like mammals, turtles and birds died because of this oil spill within the six months of the oil spill.
The issues of the oil spill can be found to be many multiple failures on the firm side. A federal investigation has revealed that the well which was underwater had multiple flaws which led to the disaster. They had found that the wiring was faulty, flawed management, dead battery and also there was bending pipe in the hulking device which shouldn’t be present. Thus there were multiple issues from the management side and they did not have the proper steps and procedures in place which led to the oils spill (Kytle & Ruggie, 2005). They have also faulted the operator of the rig who didn’t check the safety measures of the rig in an appropriate manner. They didn’t test the individual systems but checked the system as a whole. Transocean was responsible for maintenance of rig. Thus both the firms accused each other negligence and held the other firm responsible for the spill.
The incidence of the BP oil spill can be said to be a classic case of negligence of the corporate governance and ethical practices of firm.The oil resulted in to huge damages for the firms and the implications for the firm. In addition, the damage to the environment was huge (Moon, 2007)