Download e-book for iPad: Drowning in Oil: BP & the Reckless Pursuit of Profit by Loren C. Steffy

By Loren C. Steffy

ISBN-10: 0071760814

ISBN-13: 9780071760812

ISBN-10: 0071761772

ISBN-13: 9780071761772

The definitive account of the way BP's win-at-all-costs tradition ended in this era's maximum commercial catastrophe

"A conscientiously and powerfully written story." monetary occasions

"When an writer makes use of a loaded note like 'reckless' in a book's name, the load of evidence is excessive. . . . Steffy meets the load via demonstrating that company behemoth BP (formerly British Petroleum) may have avoided the eleven deaths on April 20, 2010, aboard the Deepwater Horizon. . . . The deaths and the large oil spill following the sinking of Deepwater Horizon would definitely develop into a landmark of company ineptness and greed for the rest of human background, thank you partially to Steffy's extraordinary account." San Antonio Express-News

"Steffy has produced a desirable, gripping, revealing account. . . . The e-book info occasions aboard the Deepwater Horizon in April of 2010 to begin, however it digs deeper into what's printed as a tradition of cost-cutting boiling over inside of BP. Steffy records years of incidents and negative administration judgements, detailing the increase of key characters like John Browne and Tony Hayward along riveting outlines of scary occasions in Texas urban and at different BP destinations. . . . The e-book reads like fiction every now and then, with the author's heavily-detailed money owed of explosions and conversations developing shiny, approximately fantastical photos. The tragic background of BP is all-too-real, notwithstanding, because the misplaced lives and environmental harm definitely attest to.. . . Steffy is an intensive, straight forward writer. His issues mostly lie with the demise and the overall tradition of cost-cutting of BP, portray an apt and terrifying photo of rampant, regular, expensive neglect." Seattle publish Intelligencer

"Steffy offers invaluable perception and the most important company context in explaining how loads oil ended up within the Gulf of Mexico." BusinessWeek

"[Steffy's] investigations demonstrate a company tradition of cost-cutting projects that placed gains prior to staff' lives and the surroundings, with repeated protection violations and an abysmal coincidence heritage. . . . Steffy info how, within the context of BP's list, the catastrophe was once simply a part of a trend of bad choice making within the relentless pursuit via BP to turn into the most important and so much ecocnomic oil corporation within the world." Booklist

About the booklet

As evening settled on April 20, 2010, a sequence of explosions rocked Deepwater Horizon, the vast semisubmersible drilling platform leased via British Petroleum, situated forty miles off the Louisiana coast. the resultant inferno claimed eleven lives, and it'll rage uncontained for 2 days, till its wreckage sank to a last resting position approximately a mile underneath the waves. at the ocean flooring, the unit's wellhead erupted. Over the following ten weeks, as repeated makes an attempt to cap the geyser failed, an predicted two hundred million gallons of oil—the identical of 20 Exxon Valdez spills—spewed into the Gulf of Mexico, finally lapping up on seashores as distant as Florida.

Drowning in Oil , by way of award-winning Houston Chronicle enterprise reporter and columnist Loren Steffy—considered via many to be the author with the easiest entry to the story—is an unparalleled and gripping narrative of this disaster and the way BP's winner-take-all enterprise tradition made all of it yet inevitable.

Through never-before-published interviews with BP executives and staff, environmental specialists, and oil insiders, Steffy takes us behind the curtain of a hundred years of BP company background. starting with the conglomerate's early gambits within the heart East to its fresh ascent between power titans, Steff reveals the roots of the Gulf oil spill within the unwritten discount among oil manufacturers and shoppers, whose insatiable appetites force the hunt for brand new offers swifter, farther, and deeper.

Beyond this, the Deepwater Horizon catastrophe came about after a historical past of rate slicing in pursuit of earnings, quite lower than the counsel of its most modern ex-CEOs, John Browne and Anthony Hayward.

Exhaustively researched and documented, Drowning in Oil is the 1st in-depth exam of ways an absence of company accountability and executive oversight ended in the largest offshore oil spill in U.S. historical past. it truly is an aim, no-punches-pulled account of the power undefined: its environmental effect and the serious pageant between stakeholders in contemporary oil markets.

This e-book places every part jointly, delivering a definitive account of BP's pursuit of oversized earnings because the business international awakens to the awful realities of height Oil.

" They fumbled round the darkened room and located an guide. by way of flashlight, they learn the beginning systems. They have been doing every little thing correct. After 5 or 6 futile attempts, they gave up and headed again towards the bridge. again at the bridge, alarms have been shrieking and the captain knew they have been operating out of time. The subsea engineer had hit the emergency disconnect for the good, and even if the keep watch over panel confirmed the rig can be loose, it wasn't. The hydraulics have been lifeless. fireplace endured to shoot from the pinnacle of the derrick. The rig had no strength, and with no energy, it had no pumps for the firefighting gear, no strategy to close off the move of fuel from the good, and no solution to disconnect the rig from the flaming umbilical that had it tethered to the wellhead. " —from Drowning in Oil

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Additional resources for Drowning in Oil: BP & the Reckless Pursuit of Profit

Sample text

They weren’t pulling away, they were heading closer to the rig. Williams protested, but the boat driver told him that there was a life raft under the rig. The bridge crew was still stuck there, bobbing in the underbelly of the flaming giant above. The raft was drifting farther under the rig, toward the fire. The rescue boat crew threw a line over in hopes of towing the raft, but as it tried to pull the raft away, Williams could feel the rescue boat moving sideways. Something was holding them back.

As the survivors arrived, they were ushered into a big room, told that they couldn’t contact families or attorneys, and presented with a paper that they were supposed to initial and sign before they could leave. ” Finally, Stone was allowed to call his wife, Sara. She’d flown from Houston to New Orleans and had gotten word that Stephen 21 22 D R O W N I N G I N O I L was safe, but she’d been frustrated at not being allowed to speak with him. After another three hours, Stephen was taken to the Crown Plaza hotel in New Orleans, where he finally was reunited with her, given a room, and allowed to sleep—the first sleep he’d had in more than 30 hours.

5 This was no gold mine, and D’Arcy found his thirst for the gambler’s share tested by the sheer magnitude and expense of the endeavor he’d undertaken. Reynolds blew through £200,000, and D’Arcy feared that his tony lifestyle would be compromised if he spent any more. ” What little oil was flowing wasn’t enough to cover the drilling costs, and D’Arcy’s banks were threatening to seize the concession. 6 However, D’Arcy wasn’t prepared to give up. He began searching for other investors, approaching first the British government, then other oil companies.

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