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: 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. Fishermen, hotel owners and operators of tourism businesses, have filed cases that demand for the payment of different amounts in damages due to the losses incurred after the spill. The companies are expected to pay huge amounts in terms of damage costs in the legal cases presented. However, the OPA gives a limit of $75 million as the maximum amount that a company can pay in damages for oil spillage (Bowman, 2010). As an effect of the spill, this law has been under review by the Congress as some people think that this is too lenient considering the effects of the spill. In this perspective, the OPA holds BP, Transocean and the other companies responsible for the payment of the damages caused to people and business.