Download Drowning in Oil: BP & the Reckless Pursuit of Profit by Loren C. Steffy PDF

By Loren C. Steffy

The definitive account of ways BP's win-at-all-costs tradition resulted in this era's maximum commercial catastrophe

"A rigorously and powerfully written story." monetary occasions

"When an writer makes use of a loaded note like 'reckless' in a book's name, the weight of evidence is excessive. . . . Steffy meets the load by way of demonstrating that company behemoth BP (formerly British Petroleum) can 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 turn into a landmark of company ineptness and greed for the rest of human background, thank you partly to Steffy's outstanding account." San Antonio Express-News

"Steffy has produced a desirable, gripping, revealing account. . . . The ebook information occasions aboard the Deepwater Horizon in April of 2010 to begin, however it digs deeper into what's published as a tradition of cost-cutting boiling over inside of BP. Steffy records years of incidents and terrible 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 ebook reads like fiction now and then, with the author's heavily-detailed money owed of explosions and conversations growing brilliant, approximately fantastical photographs. The tragic heritage of BP is all-too-real, although, because the misplaced lives and environmental harm definitely attest to.. . . Steffy is a radical, ordinary writer. His matters mostly lie with the dying and the final tradition of cost-cutting of BP, portray an apt and terrifying photo of rampant, regular, high priced neglect." Seattle submit Intelligencer

"Steffy offers precious perception and the most important company context in explaining how rather a lot oil ended up within the Gulf of Mexico." BusinessWeek

"[Steffy's] investigations show a company tradition of cost-cutting projects that positioned gains sooner than employees' 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 negative choice making within the relentless pursuit through BP to turn into the biggest and such a lot ecocnomic oil corporation within the world." Booklist

About the booklet

As evening settled on April 20, 2010, a chain of explosions rocked Deepwater Horizon, the mammoth semisubmersible drilling platform leased via British Petroleum, situated forty miles off the Louisiana coast. the consequent inferno claimed eleven lives, and it's going to 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 envisioned two hundred million gallons of oil—the an identical of 20 Exxon Valdez spills—spewed into the Gulf of Mexico, ultimately lapping up on shores as distant as Florida.

Drowning in Oil , through award-winning Houston Chronicle enterprise reporter and columnist Loren Steffy—considered by means of many to be the author with the simplest entry to the story—is an remarkable 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 backstage of a hundred years of BP company background. starting with the conglomerate's early gambits within the heart East to its contemporary ascent between power titans, Steff finds the roots of the Gulf oil spill within the unwritten cut price among oil manufacturers and shoppers, whose insatiable appetites force the hunt for brand new provides swifter, farther, and deeper.

Beyond this, the Deepwater Horizon catastrophe came about after a background of fee slicing in pursuit of gains, relatively less than the suggestions of its latest 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 resulted in the most important offshore oil spill in U.S. historical past. it truly is an aim, no-punches-pulled account of the power undefined: its environmental influence and the serious pageant between stakeholders in present day oil markets.

This booklet places every thing jointly, delivering a definitive account of BP's pursuit of oversized gains because the commercial global awakens to the awful realities of height Oil.

" They fumbled round the darkened room and located an handbook. through flashlight, they learn the beginning techniques. 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 regulate panel confirmed the rig can be unfastened, 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 out strength, it had no pumps for the firefighting gear, no option to close off the circulate of gasoline 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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Extra info for Drowning in Oil: BP & the Reckless Pursuit of Profit

Example text

Government, it was responsible for any oil that leaked from the well. That was true even if Transocean’s equipment had failed— the equipment that was supposed to prevent this sort of thing. Whatever the cause, Hayward and BP would be forced to face the consequences. This would become BP’s crisis, and it was BP that would have to fix it. Hayward, who’d managed for years to avoid getting caught in BP’s fatal legacy, was now fully ensnared. The company’s past, which he thought he had buried, had come roaring back.

Browne wanted to restore the company’s grandeur, to make it a true global competitor. In the process, he would become something of a rarity—a rock star of British business. Browne was born a child of the realm, but he spent little time in England as a boy. His parents met in Germany shortly after World War II, and Browne was born in Hamburg in 1948. His father was a British army officer. His mother, Paula, was a Hungarian of Jewish descent who had spent a year in Auschwitz and who had lost most of her family during the war.

Unlike BP, though, Amoco was a failure at finding oil. It had spent billions on new prospects, only to come up empty-handed. Pushing into international markets like Uganda and Pakistan, Amoco found itself locked into multiyear work agreements in countries that had little infrastructure to support drilling. That made the company’s prospects more expensive to undertake, which just added to the losses when the wells didn’t produce oil. Amoco drilled dozens of dry holes around the world, leading to one of the worst drilling records in the industry’s history.

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