The And Environmental Impact Plan - 1330 Words

Future Precautions It is quite clear that the exploration and environmental impact plan was not enough to truly evaluate the risk involved in this case. One of the major flaws in planning, was skipping over the environmental impact study, due to a false sense of security. The reasoning behind skipping over the impact study was to reduce costs and hurry the project along. There is the possibility that data could have been collected that may have assisted in preventing the disaster. Oil companies need to be held accountable for conducting and following through with procedures that are included in risk assessments. As the original proposed plan demonstrated, there were no potential risks involved. BP did not follow the original plan, as they†¦show more content†¦Having a non-affiliated trained professional conduct audits and inspections would reduce the likelihood of a non-trained employee being held responsible for audits and inspections. The risk of those in higher positions altering what was previously reported would also be reduced. In response to the disaster, Congress has enacted the RESTORE Act, which states that â€Å"80 percent of the fines BP pays under the CWA will go toward environmental and economic restoration projects in the Gulf† (Beinecke, 2013, para. 20). This act is important in that those who were affected by the spill will eventually receive compensation. However, there has been nothing done to improve offshore drilling and to make it safer. Immediate actions that could be taken by Congress include raising the liability cap and financial responsibility requirements for offshore facilities. They could also raise the OSLTF’s limitation on funds that are available for federal agency spill responses (Beinecke, 2013). The Role of Economics Economics played a crucial role in the events that led up to the disaster. BP disregarded numerous recommendations for safer practices and procedures in order to speed up the drilling process and reduce costs. These overlooks eventually resulted in the final explosion. The negligent actions of BP affected local industries, such as local fisheries and tourism [hotels, restaurants, and