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  • Essay / BP Oil Spill: Marketing Terms and Key Concepts

    According to the BP website (“BP at a Glance,” nd), “BP is one of the world's leading international oil and gas companies, supplying its transportation fuel customers. , energy for heating and lighting, retail services and petrochemicals for everyday items. Currently, it is the third largest oil company in the world and the largest oil and gas producer in the United States (Hoover's, Inc., 2012). Before 2010, BP attempted to present itself as an environmentally friendly company by expanding its markets into alternative energy, such as wind and solar power. On April 20, 2010, a BP-licensed oil rig in the Gulf of Mexico exploded, killing 11 people. (Kinver, 2011). In addition to the people killed, the oil spill released 4.9 million barrels of oil into the Gulf (Kinver, 2011). At the time, the effects on the environment, people and BP were not fully realized. The Gulf of Mexico is known to be home to many types of wildlife, including shrimp, fish, and pelicans. Although it is still too early to measure the full impact of the oil spill, scientists are doing their best to study it. Some conclude that the long-term effects could be devastating while others believe that they will not be as severe as initially assumed (Kinver, 2011). Besides wildlife, people in the Gulf region suffered great losses due to the disaster. oil spill. Many residents depend on the fishing industry, directly or indirectly. Since the fishing industry was hit, residents and towns have also suffered. In fact, many people left and businesses closed (Dymond, 2012). The April 20, 2010 oil spill was the worst in U.S. history (“BP plc,” 2012). While BP learned many valuable lessons from the middle of the document......from http://www.bbc.co.uk/news/world-us-canada-17186786Gulf of Mexico Restoration. (nd). Retrieved April 7, 2012, from www.bp.comHoover's, Inc. (2012). Presentation of BP plc. Retrieved April 7, 2012, from Hoover Database. Jennings, M. (2010). What bp teaches us about ethics, risk and business management. Corporate Finance and Review, 15 (2), 38. Kinver, M. (April 19, 2011). BP oil spill: The environmental impact one year later. BBC News. Retrieved from http://www.bbc.co.uk/news/science-environment-13123036Raymond, MA and Tanner, J. (nd). Marketing principles. Retrieved from http://www.flatworldknowledge.com/pub/1.0/principles-marketing Vranica, S. (2010, June 7). BP is stepping up its efforts to improve its image: the company is preparing a series of television spots to address its response to the Gulf oil spill. The Wall Street Journal. Excerpted from ABI/Inform Global