government's compensation benefit.Late in 1986, Union Carbide filed a lengthy court document in India detailing the findings of its scientific and legal investigations into the cause of the gas release | March 24, 1989 | Exxon Valdez | American oil tanker Exxon Valdez hit Bligh Reef in remote Alaska. The impact released 11 million gallons of oil and polluted the coastline for 500 miles in Alaskan seawaters. The incident happened after ship captain Joseph
Words: 1271 - Pages: 6
C) Identify the political processes that are influencing the setting of accounting standards in the Germany. Germany adopts the continental European accounting model, where the focus is on legal and statutory control. It is known more for its creditor protection policy and prudency. It seems Germany is unwilling to converge toward IASB standards given its domination by countries with an Anglo- American accounting background (Street, 2002;Kirsch, 2006, 375) that emphasizes on a ’true and fair view’
Words: 1117 - Pages: 5
After conducting research, I concluded that, the key causes of the Deepwater oil disaster are; first and foremost, bad management, whenever shortcuts are taken for the sole purpose of completing a job, the chances of having a disaster is multiplied. When, the well started to blow out, the decisions by management concerning how to handle that material, also lead to the disaster. Nonetheless, BP was not prepared for the disaster, and when it transpired a series of wrong decisions followed. The Deepwater
Words: 477 - Pages: 2
There have been several oil spills to occur in the United States but two of the most well known major oil spills in happen here are the Exxon oil spill and the British Petroleum Deepwater Horizon oil spill. In March of 1989 an oil tanker called Exxon Valdez created a massive oil spill after running into a reef in Prince William Sound, Alaska (Fontugne 2015). Over eleven million gallons of crude oil was poured into Alaskan waters. Due to increased fossil fuel exploration, such as fracking, in various
Words: 771 - Pages: 4
In the excerpt “The Amazing Penguin Rescue” by Lauren Tarshis, and the articles “The Amazing Penguin Rescue” by Dyan deNapoli and “Update on Penguin Rescue Efforts from Oil Spill in South Atlantic” all show the efforts after an oil spill. A cargo ship, Treasure, hit the reef off the coast of Robben Island and released tons of oil, causing 20,000 penguins to become very ill. Many rescuers received an urgent call and took their time to save these penguins. Each of sources explain the efforts after
Words: 489 - Pages: 2
While British Petroleum’s (BP) cost cutting measures played a significant role in the tragic explosion of the Deepwater Horizon, a multitude of poor decisions, inadequate testing, insufficient communication, and culture that prioritized profits ahead of safety that were the chief culprits of the disastrous events that lead to the Deepwater Horizon tragedy (Achenbach, 2011). Although, BP executives made several critical decisions to save time and reduce costs that increased risks and comprised safety
Words: 345 - Pages: 2
For many years the mines on Putney Mountain were successful employing several hundred men to bring out tons of coal. One summer night a supervisor made a wrong decision to use a car without brakes to haul extra coal to boost his production. Instead, a tragic accident was caused when the car ran off the tracks causing a cave in and a gas explosion killing several dozen men. Unable to get workers, the company removed their equipment, and abandoned the mines. Within weeks many families moved to Charleston
Words: 446 - Pages: 2
In 1968, $3 million of losses hit the fishing industry due to pollution in Chesapeake Bay, and then in 1969 it was found that over 41 million fish had been killed due pollution (Moyers); shortly after in 1972, the Clean Water Act was passed as a response to unhealthy water due to pollution. Unfortunately, the effectiveness of the Clean Water Act has been debated for the past thirty years. The issue of clean, safe water has been plaguing our nation ever since the Clean Water Act’s passing and has
Words: 1005 - Pages: 5
the atmosphere. These greenhouse gases in return contribute to the warming of the earth’s atmosphere, leading to greater risk of polar ice cap melting, flooding and other environment damages. Situation An oil tanker from Exxon which named Exxon Valdez happened oil spill crisis on Friday, March 24, 1989. (Lilly, 2011) It was categorised into the top five largest companies in the US with the leading CEO Lawrence G. Rawl. One the day of the spill, the oil tanker hit a reef and it leaked massive crude
Words: 565 - Pages: 3
Exxon Valdez Case Study Executive summary The ethical issues faced by management of corporations, and Exxon in particular, originate from the objective of cost cutting with the purpose of profit maximization. As was seen in Exxon’s case, where the disaster could have been prevented if the proper mechanisms and equipment were put in place. Conflict of interest is also a major ethical problem faced by management as well as employees in corporations, as human beings
Words: 3515 - Pages: 15
