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Capitalism in Action: the Case of BP's Oil Spill

Prabir Purkayastha, Newsclick, 30 July, 2010

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On the 22 of April, ironically being observed world over as Earth Day, the Deepwater Horizon rig drilling in Gulf of Mexico, blew up killing 11 workers and creating one of the worst oil spills in history. The oil well being drilled off the coast of Louisiana was owned British Petroleum (BP). The well which has been temporarily capped now, spilled an estimated 5-9 million barrels or an equivalent of one Exxon Valdez every 3-5 days. Exxon Valdez was the tanker, which had sunk off the Alaskan coast in 1989 and is held as the benchmark on oil spills in the oceans.

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