Documents Uncovered After the Exxon Valdez Oil Spill in Alaska

question 55

Essay

Documents uncovered after the Exxon Valdez oil spill in Alaska revealed that Exxon could have used double-hulled oil tankers that would have prevented the spill,but the cost of refitting their fleet of single-hulled tankers was considered too high.Exxon determined that the cost of cleaning up an oil spill would be less than the cost of refitting the ships,thus increasing shareholder value.Several years after the oil spill,however,Exxon was fined billions of dollars for the spill.How do the costs of the cleanup and the fines pertain to a discussion of maximizing shareholder value and ethical responsibility?

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Definitions:

Recommendation Report

A document that presents analysis and suggests actions based on examined evidence and conclusions.

Feasibility Study

An analysis and evaluation of a proposed project to determine if it is technically, financially, and legally viable.

Masonry Builders

Professionals specializing in constructing structures from individual units of materials like stone, brick, or concrete.

Environmentally Sensitive

Referring to practices or products that are considerate of their impact on the environment, minimizing harm.