Nobody downloaded yet

Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil - Research Proposal Example

Comments (0) Cite this document
Research Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spill Customer inserts his/her name Customer Inserts 11th November, 2011 Nature of the Issue The issue that this research shall attempt to investigate is the Gulf Oil Spill…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.7% of users find it useful
Research Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil
Read TextPreview

Extract of sample "Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil"

Download file to see previous pages The world’s most sophisticated drill rigs, known as The Deepwater Horizon, was degraded to a mass of burnt metal in a split of seconds (Peppas, 2011). The rising demand for oil over the years meant that companies were drilling even deeper into the sea in an attempt to drill more oil. The oil spill occurred at a time when the industry was least expecting it; industry experts has speculated that the chance of an explosion was less than one percent (McCoy & Salerno, 2011). However, the incident painted an entirely different picture; thousands of individuals were cleaning up the oil spill, with thousands of devices screening the blowout. Discoverer Enterprise, the drill ship, howled loudly as it vent out methane gas that shot from the runway well (Peppas, 2011). Another rig, Q4, 000 which burnt oil and gas, simultaneously exploded (Peppas, 2011). What made matters worse was that the waters of the gulf were very difficult to reach; the terrain is very rough marked by canyons, ridges and volcanoes (Farrell, 2011). The deposits lay buried under the salt ridges under the sea that were vulnerable to earthquakes. Furthermore, the temperatures underwater were freezing whereas the temperature of oil reservoirs was around 400 degrees (Upton, 2011). Economic concepts/approaches to be used in the research The economic concepts/ approaches to be involved are as follows: The concept of negative externalities: This concept explains the impact of individuals and/or corporations on a third-party (Hackett & Moore, 2011). They can be negative or positive; however, in this situation the externalities are likely to be negative rather than positive. Negative externalities shall revolve around the following : Damage to marine life Damage to local fishermen Damage to the coastal area’s economy Damage to U.S’s exports Damage to locals who inhale the toxic fumes Damage to individuals who consume the contaminated seafood Cost Benefit analysis of the clean up: This concept shall arise when the company involved decides to arrange for a cleanup of the oil spill as well as compensate the families of the deceased or affected people. BP shall have to weigh the private versus social costs and benefits associated with the remedies it take which shall be explored in the main research. As economic theory suggests the decision that BP takes may not be socially desirable because of corporations’ self-interest and focus on maximizing private net benefits rather than maximizing social net benefits (Ramseur & Ramseur, 2010). Expected findings/outcomes The findings expected are: Increasing unemployment- What shall be the impact on businesses whose earnings were tied to the Gulf of Mexico? Increasing government deficits in the region- What shall be the impact on fishermen who no longer have a source of income? Increase in national deficit- The deficit is expected to exceeding $2 million (Landau, 2011) Inflation in prices of agricultural products Higher taxes- Politicians can use this opportunity to charge higher taxes on an already troubled population Ecological damage to Louisiana coast Damage to marine life- Oil has swept deep into the sand which is the breeding ground for most fruits and vegetables. If the oil isn’t cleaned up it can lead to intoxicated vegetables and fruits that can contaminate human life. Also toxic fumes have penetrated deep into the sea bed that can harm marine life, including fishes, disturbing their entire ecological system ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Research Paper Prospectus on the Economic and Financial Impact of the Proposal”, n.d.)
Retrieved from
(Research Paper Prospectus on the Economic and Financial Impact of the Proposal)
“Research Paper Prospectus on the Economic and Financial Impact of the Proposal”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Research Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil

Research Paper on the BP Gulf Oil Spill

...Discussion and Findings The BP Oil spill or the Deepwater Horizon incident has raised several issues from the environmental, economic and financial points of view. The temporary measures taken by the government by issuing the moratorium to ban the drilling activities for six months did not address the causes but negatively impact the Gulf economies. The incident has resulted in negative externalities like losses for the Gulf fishing industry because of consumers’ perception about the quality of Gulf sea food, damage to marine life, lost human lives on site, badly affected coastal tourism and ill health effects. However...
16 Pages(4000 words)Research Paper

The Oil Spill in The Gulf of Mexico

...of damage done by this oil leakage to the water life and the ecosystem. It’s a sad reality that nothing significant could be done soon enough to stop the oil from damaging the water life. This is an unequivocal fact that the Gulf of Mexico is home to countless rare species, all of which were being ruthlessly damaged and killed by the toxic crude oil at an unprecedented rate. Also, the oil spill did not spare the already endangered specific fish population and heavily impacted it through its toxic potential. Many dolphins have been seen as acting drunk due to the effects of the oil spill. (Trevelyan). The...
10 Pages(2500 words)Research Paper

Saudi Arabia's Oil Impact on World Economy

...?Introduction Saudi Arabia is one of the largest oil producers in the world and according to Vitalis, (2007), the country has the second largest oil reserves globally. Oil accounts the largest source of the global energy demand and hence the economic importance of Saudi Arabian oil is tremendous. The development of oil sector in Saudi Arabia and other oil producing countries has undergone numerous political and economic changes, which have affected production and the eventual prices of the commodity in the global market. This paper explores the Saudi Arabian oil and its impact on the global economy. The establishment of Saudi Arabia Historically, the development of the oil industry in Saudi Arabia has been closely associated... . Turkey was...
7 Pages(1750 words)Research Paper

Mexican Gulf Oil Spill

...from the general populace. The case study of Gulf of Mexico oil spill will aid the understanding of the audience as to how the company dealt with the situation. The focus will be on the way company handled its communication in the media. Also, the role of culture and politics and its impact on the way the company dealt with the crisis will be discussed. The reaction of the public and how British Petroleum handled it will also be significant part of this case study. Gulf of Mexico Oil Spill The Gulf of Mexico oil spill started on 20th April 2010 with an explosion of the deep water horizon in which 11 men lost their lives...
8 Pages(2000 words)Research Paper

Changes in Gulf banking industry after global financial crisis

...fact that the gulf banking system has faced some of the severe impacts of the financial downturn. Research shows that the Gulf region consists of not only rich countries, but also economically poor countries that have high dependence on the international markets (Xiao, 2009). These countries also face demographic pressures that affect the economic functioning of the economies. They have been financially affected due to lack of “effective regional integration and well-functioning social safety nets” (Drine, 2010). The Gulf area can be classified into three regions. The first region consists of countries...
4 Pages(1000 words)Research Paper

Environment vs Economic Impact

...ENVIRONMENT VS. ECONOMIC IMPACT Introduction Environment refers to any condition surrounding someone or something: the conditions and influences that affect the growth, health and/ or progress of an organ, entity and organization. Economic activities refer to all activities involved with the generation of income to the community and population in large for the enhanced livelihoods and improvement of living conditions among the people. People work very hard to obtain a living while others work to increase their wealth. Environmental Economics is concerned with the theoretical and empirical studies of the economic effects of environmental policies all over...
5 Pages(1250 words)Research Paper

Hemp economic impact and legalization

...Task: Hemp economic impact and legalization: Hemp is a commonly used word for a variety of fiber rich crops, most important in relation to Cannabis and its products, however there are other variants of the crop (Cannabis Sativa) commonly used as a drug, leading to criticism from various groups on the use of this plant. The legality of hemp usage varies from country to country basing on the economic impacts the plant has on the individual country. Most countries the regulatory status of this hemp, basically depends on the amount of tetrahydrocannabinol that the plant was bred in if it’s low or high and the health/ environmental effects. Hemp is a relatively important crop...
6 Pages(1500 words)Research Paper


...Fundamentals of the oil industry The global economy has over the past decades depended on oil as the key source of energy for domestic use and industrialization. Even in the current economic policies with alternative source of energy in nuclear technology and the traditionally used coal, Oil still remain the primary energy source for the world. Oil industry remains unique and critical to the world economy and there attracts global attention with significant influence in economic policies and events. It is important to undertake a study on Oil industry from a bigger perspective ranging from production to supply and final...
5 Pages(1250 words)Research Paper

Economic impact

...Economic impact Table of Contents Economic impact Table of Contents 2 Introduction 3 Supply and Demand conditions 3 Costs of Supply 6 Conclusion and Recommendations 6 References 7 Barber, C. V., Miller, K. & Boness, M. M. 2001. Securing protected areas in the face of global change: issues and strategies. Switzerland: IUCN. 7 Introduction Coffee is regarded to be an important and favourite beverage globally, especially after the commodity has consistently exhibited a downward price trend since the late 1990s. It is more popular in regions featured by high industrial growth unlike in agro-based economies where tea is the more preferred one. In fact, in high-income...
5 Pages(1250 words)Research Paper


...states and cooperate as necessitated in the market. This tactic would be effective, instead of America applying unsuccessful warfare or diplomacy tactics (Yetiv & Feld, 2007). America’s deployment of market power will have grievous impacts on Middle East states. For instance, states like Saudi Arabia and Venezuela who intensively depend on oil export for their economic survival (Sharp, 1950). The states revenues constitute 70% and 76% respectively, hence indicating a decline in America’s market, which will be a significant blow to their economies. In applying this tactic, America lacks appropriate strategies to implement it, though, at earlier times, it seemed to work but disrupted by...
5 Pages(1250 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Proposal on topic Research Paper Prospectus on the Economic and Financial Impact of the Gulf Oil Spil for FREE!

Contact Us