Oil spill risk analysis via largest oil spill accidents and their effects in the ecosystem and the economy

Abstract

Oil Spill catastrophes have been one of the largest concerns worldwide especially in the marine sector as they bring with them commercial and environmental problems. Also, such catastrophes when occurred, last long after the cleaning procedures are finalized. Major oil spill catastrophes will be presented and some of the topics to be declared: Challenges facing the oil and gas industry in terms of health and safety along with prevention measures. In what way the oil spills are affecting the nature, the company and the economy and what is the current situation at the Gulf Coast. Compliance with relevant oil and gas regulations. What are the common causes of the oil spills? Reference to the cleaning procedures and their cost in regards to the oil spilled. Crisis Management models will be introduced through the Exxon Valdez oil spill disaster. The significance and non-significance between numerous factors concerning the clean-up costs after an oil spill will be tested.