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The Deepwater Horizon exploded on April 20, 2010 after drilling BP's exploratory well in 5,000 feet of water offshore Louisiana. The rig sank two days later. The well was shut down on July 15, 2010 but not sealed until September 19, 2010. The accident killed 11 workers, seriously injured others, and spilled more than four million barrels of oil. President Obama established the National Commission on May 22 to: 1) examine the facts and circumstances to determine the cause of the disaster; 2) develop options for guarding against future oil spills associated with offshore drilling; and 3) submit a final, public report within six months of its first meeting.

The National Commission on BP Deepwater Horizon Oil Spill and Offshore Drilling released its report in full in January 11, 2011. The report stated:

"The blowout was not the product of a series of aberrational decisions made by rogue industry or government officials that could not have been anticipated or expected to occur again. Rather, the root causes are systemic and, absent significant reform in both industry practices and government policies, might well recur."

A) Evaluate whether and to what extent the human failures that led to the disaster can and will be corrected.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M949112

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