BP and the Macondo Spill: The Complete Story

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Palgrave Macmillan, May 11, 2011 - Business & Economics - 234 pages
Most of us drive to the gas station to purchase fuel for our cars. Heating oil is delivered to our homes to keep us warm throughout the winter. We do not stop to think about the raw materials that make up so many of the goods we consume. Nor do we ponder
the fuel used to grow and harvest our food or to bring almost all that we buy to market. In fact, we think little about energy until we are shocked by the displacements and damage caused by a major energy industry calamity. Unfortunately, when such a
calamity occurs, we seek simple explanations, despite our complicity in our increasingly desperate demand for energy.

An event such as the Deepwater Horizon oil well blowout and spill in the Gulf of Mexico should give us a cause to pause and try to make sense of such an environmental tragedy. However, if we merely brush off such a tragedy as the result of the carelessness of foreign “Big Oil,” we miss an opportunity to truly understand an exceedingly complex energy environment. And, by blaming a single entity, we avoid broader culpability in an industry that may need reform, a governmental regulatory body that failed to protect the public, and a set of technologies that have lulled us into energy complacency.

In this book, Colin Read uncovers precisely what occurred during this most complex saga. While the various factors that contributed to an oil-damaged gulf and a financially ravaged BP are explored and analyzed, the author looks deeper to better
understand our increasing energy dependency and assesses the impact this will have on future generations.

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About the author (2011)

COLIN READ is Professor of Economics and Finance at SUNY College at Plattsburgh, and a columnist for the Plattsburgh New York Press Republican newspaper. He has taught economics and finance for 25 years. His recent books include Global Financial Meltdown: How We Can Avoid the Next Economic Crisis, The Fear Factor and International Taxation Handbook (edited with G. Gregoriou). He has written dozens of papers on market failure, volatility, and housing markets, writes a monthly column in a business trade journal, and appears monthly on a local PBS television show to discuss the regional and national economy.