Friday, February 24, 2012

BP Oil Spill

The oil spill from BP was caused for many reasons such as, human and machine error. One machine, a blowout preventor, is used to seal leaks that may occur. Due to mistakes the BOP, or blowout preventor was unable to perform its job. An obstruction caused the BOP to not contain the leaks properly.Thus, oil began to leak into the ocean causing an environmental disaster.After the oil spill off the coast of Louisiana, BP is coming up with possible solutions to clean up the mess. A cement dome is being built to contain all of the oil in the ocean, it is a 4 story, 70 ton structure that is going to be lowered over one of the 3 leaks to catch the escaping oil. Other solutions have also been brought to the attention of BP. Humans and machines that perform jobs will now be closely observed and checked for safety and proficiency before executing their work. Companies such as FBR Capital Markets have invested their money and trust into BP and were worried when the oil spill occured. They and other companies may be faced with a loss of money and investments as well as BP. In my opinon, BP could have prevented this oil spill form the beginning. Jobs should be performed slowly and precisely to minimalize mistakes. Corners should also not be cut, to save money.

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