Fossil fuels: Deepwater gamble

Context

Your company is preparing to expand deepwater drilling operations in a region rich in untapped reserves. Profits from such ventures are enormous, yet a spill disaster is possible that could kill wildlife and devastate ecosystems.

Dilemma

Do you:
A) Push forward with the new deepwater drilling project, relying on current safety protocols and the promise of huge profits, despite the known environmental and reputational risks.
B) Halt the project to conduct an independent safety review and invest in newer, safer technologies—delaying profits but prioritizing long-term responsibility and avoiding catastrophic risks.

Summary

The Deepwater Horizon oil spill, beginning April 20, 2010, was history's largest marine oil spill. An explosion on the BP-operated rig in the Gulf of Mexico killed 11 workers and caused the rig to sink. For 87 days, millions of barrels of crude oil flowed into the Gulf, causing catastrophic environmental damage to marine ecosystems, wildlife habitats, and coastlines across several US states. The disaster severely impacted regional economies reliant on fishing and tourism. BP faced enormous cleanup costs, fines, and legal settlements. The event resulted from multiple safety failures, leading to increased scrutiny and stricter regulations for offshore drilling.

Resources:

• https://en.wikipedia.org/wiki/Deepwater_Horizon_oil_spill