Ethics Case 1 BP’s Gulf Oil Spill Costs

Assignment 1: Textbook Ethics Cases

Ethics Case 1: BP’s Gulf Oil Spill Costs

Read the Ethics Case, BP’s Gulf Oil Spill Costs, on pp. 203–204 of your text and answer the following questions (approximately one paragraph per answer):

Using the 2011 Annual Report, identify the costs to stakeholders associated with the BP Oil Spill. What other costs need to be considered that were not included in Reuter’s estimates?
Why were BP’s early estimates so low? After all, as Reuter’s reports – BP had experience with two other recent cases?

In addition, answer the following questions (approximately one paragraph per answer):

When would it be beneficial to use each of the following frameworks: the philosophical set of consequentialism, deontology, and virtue ethics; the modified 5-question; the modified moral standards; and the modified Pastin approach?
Explain why it is critical to successful application of an EDM Framework to incorporate all four considerations of well-offness, fairness, individual rights and duties, and virtues expected.