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Oil spill case study summary
Three important topic of globalization that effect on environment
Three important topic of globalization that effect on environment
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Recommended: Oil spill case study summary
On April 20, 2011, an oil rig in the Gulf of Mexico exploded on British Petroleum’s (BP) Deepwater Horizon. As a result, of the 126 BP crew members aboard, 11-15 were reported missing. Six days later, underwater robots reveal at least two leaks are dumping 1,000 barrels of oil into the Gulf per day. Consequently, this would become one of the worst oil spills in the history of the United States and perhaps the petroleum industry. This recent Oil Spill portrays one of many dilemmas BP has faced as it scrambles to expand and globalize itself as a transnational corporation in the world economy against other oil and gas companies. Although this disastrous event has affected BP negatively, the company has found a way to overcome it, while still becoming the 6th largest in the world; it continues to do this by offshoring, outsourcing, and merging with other oil and gas companies, three key strategies BP has been using since its establishment in 1909.
Globalization as Matthew Sparke defines, "is the extension, acceleration, and intensification of consequential worldwide interconnections” (2013, p. 3). In others words, globalization integrates social, economic, and political factors that shape the world. Globalization can be thought of as a great phenomenon; similarly, it can be thought of as quite the opposite. This paper will explain when, where, how and why BP Plc. has become a transnational corporation through globalization by offshoring, outsourcing, and merging with other companies. In addition, this paper will discuss the successes and consequences caused by globalization through BP’s three key strategies.
Like many others who start out, BP Plc. was a small company struggling to succeed after experiencing almost two bankruptcies. B...
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...exico, resulting in the death of humans, wild and marine lives, in addition to contaminated water.
Admittedly, I’m of two minds when it comes to globalization. On one hand if it expands a company or a business that will in turn provide people jobs and raise their standard of living, it should be encouraged. On the other hand, if it exploits workers and places the environment at risk, we should approach it from a different perspective. We currently live in world where globalization has indeed increased the interactions amongst people, but not in a good way; globalization as it considered by neoliberals a leveler, has done the opposite. While that’s another topic to be discussed, my point is, globalization is good, but it seems that the consequences which it has generated for BP Plc., is far greater than the good it produced for the people and the environment.