Deepwater Horizon

Definition

Deepwater Horizon was an offshore drilling rig that exploded in 2010, leading to one of the largest environmental disasters in U.S. history. The incident highlighted significant risks and challenges within the oil industry and its impact on economic systems and business environments.

Related terms

Corporate Responsibility: The duty of companies to ensure their actions do not harm people or the environment, illustrated by implementing safer operational practices.

Environmental Impact: The effect human activities have on the natural world, exemplified by how oil spills damage marine ecosystems.

Risk Management:

The process of identifying, assessing, and controlling threats to an organization's capital and earnings, as demonstrated by measures taken to prevent oil drilling accidents