On April 20, 2010, our country was shocked. British Petroleum (BP) suffered a massive oil spill in the gulf of Mexico that cost them approximately $20 billion in legal fees and lawsuits alone according to CBS News. The spill was a devastating blow to our already fragile American economy. The spill resulted from risky business decisions that saved $7 million but put the safety of crew members and wildlife in jeopardy. According to the NY Times, "Over the next three months the broken oil well, more than a mile under the water, gushed nearly 500 million barrels of oil (more than 200 million gallons) before engineers capped it nearly mid-July 2010."
When news of the oil spill circulated throughout the media, BP's reputation was immediately called into question. In an attempt to salvage their image, BP set up a $500 million fund as "an open research program studying the impact of the spill" (quote from letter to customer Kevin Phelan on July 21, 2010). Unfortunately for BP, it was too little too late; the damage had been done.Many Americans consumers feel that BP mismanaged their budget, resulting in poor decisions that cost several people their lives. Rather than use the recommended structural column to support the rig, BP chose to use a cheaper alternative in a string line, saving the company $7 million but costing them 11 lives and $20 billion. Though BP chose to save money in the short-term, the decision resulted in massive loss that far outweighed the original structural purchases.
Though this tragedy may seem overwhelming, there is something every consumer can do to help. Dawn soap is helping raise money to save and protect the wildlife that was affected by the oil spill. For each bottle of soap that is purchased, Dawn has pledged $1 to assist in wildlife efforts. This may seem small, but hundreds of thousands of dollars are being raised. Don't give up; get involved!
