Business Ethics
Risk
The demand for oil depletes the world’s oil reserves at an alarming rate. Drilling operations are accused of contributing to water pollution and the release of air contaminants into 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 oil in the Prince willam sound which was …show more content…
Also, Iarossi fired the captain of Exxon Veldez—Hazelwood. And after all of that when CEO Rawl did not care about the crisis, the media, the fishermen, the environmentalist and the public were brawling against the company.
The company BP was founded in 1909 as the anglo-persian oil company(APOC) right after William Knox D’ came across oil in Iran after eight year research. In 1914, Winston Churchill, who was the head of British navy and believed in Britain needing steadfast oil supply, convinced the British government to buy 51% stake in the almost bankrupt company. (Christina Ingersoll, 2012)
As of 2010, the Deepwater Horizon disaster was the largest marine oil spill ever to occur in U.S. waters. By the time the well was capped on July 15, 2010, nearly five million barrels of oil (205.8 million gallons) had spilled into the Gulf of Mexico. Federal science and engineering teams revised their estimates on the rate of oil flow several times, and in August they concluded that between April 20 and July 15, 53,000-62,000 barrels per day spilled into the Gulf-4 an amount that was equivalent to a spill the size of the 1989 Exxon Valdez every four to five days.5 Before the Deepwater Horizon disaster, the Exxon Valdez held the record for the largest spill in U.S. waters. (Christina Ingersoll,