Title: Ethical and legal effects of the gulf oil spill | Accurate Essays
Headings: Ethical and legal effects of the gulf oil spill
Ethical and legal effects of the gulf oil spill
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Ethical and Legal Effects of the Gulf Oil Spill
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Content: Even when the government intervenes, the company must cater for all costs for the clean up. This law does not put a limit to the amount of money that a company can pay for the cleanup of the oil spill. In this perspective, BP and its partners have been legally held responsible for the cleanup (Bowman, 2010). Under this law, if the persons or companies responsible for oil spills do not meet the financial responsibilities for the cleanup, additional penalties may be imposed on them. This shows the extent to which a company can be held responsible for the oil cleanup. The government determines the amount of money that is used in the cleanup and the companies responsible meet this cost. Secondly, under this Act, persons and companies responsible for oil spillage have the responsibility of paying damages for the losses incurred by people or businesses affected by the oil spill. Additionally, the companies are also liable to paying damages to the government for its loss in tax revenues due to the spill (Bowman, 2010). The destruction of natural resources is also a liability that the companies have to meet by paying the government any outstanding amounts lost due to the damage to natural resources. The effects of the Gulf of Mexico oil spill are already visible from the numerous cases that have been filed against BP and its partners.