Negligence Of Social Contract And Its Breaching - 2467 Words

Introduction: BP oil spill which is also called the deep water horizon spill have become one of the largest oil spill in the history that began on 20 April 2014. There was discharged of 4.9 million barrels of oil i.e. in the floor of the gulf of Mexico which caused the death of 11 lives, 6104 birds and also the sea turtles as well as the 100 dolphin .likewise, it also affect several wildlife’s .This disaster have wiped nearly about $40 million from the market value of BP’s and also in may 2010, nearly about 130 lawsuits were being filed against BP. In this case, the main ethical issue is of the negligence of social contract and its breaching. A group of stakeholders consisting of board of management, shareholders and their directors were involved in this breaching which caused a disastrous loss in environment. BP poorly maintained their oil drilling and transporting equipment which contributed to the happening of this big disaster in the history (Marzolf, 2011).The another reason of Disaster is also due to the society have less information of Bp .If BP have done all the activities as they said or the information of the share price up is positive then the result will be positive. Because of the disaster the CEO has to go back as it’s lost its legitimacy. In BP case the CEO of BP have the self-interest in bonus. He wants to maximize his bonus and to maximize his bonus he needs to maximize the profit. He didn’t care for the welfare of the society. Background/history: BPShow MoreRelatedThe Importance Of Comprehensive Site Investigations And Getting The Right Report1351 Words   |  6 PagesEPA would sign off the completed decontamination. 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