DEEP WATER HORIZON DIASTER

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DEEP WATER HORIZON DIASTER : 

DEEP WATER HORIZON DIASTER techNICHE – Group 3 Iwin Dhruv Spoorthy Himanshu Anncie

CONTENTS : 

A PARADIGM SHIFT NEEDED BP COMPLACENT? ARE WE IN CRISIS WAY OUT CONCLUSION CONTENTS

Mainstream Economics Needs a Scientific Revolution : 

Mainstream Economics Needs a Scientific Revolution What is the flagship achievement of economics?” Only its recurrent inability to predict and avert crisis. Mainstream economic approaches to the environment Ancient forests are seen as non-performing assets to be liquidated. Clean air and water are luxury goods for the affluent to purchase at their discretion. 750 SAFETY VIOLATIONS CONCENTRATED ON COST CUTTING MEASURES 156144800 GALLONS LEAKED AND STILL COUNTING. FORGOT THE ENVIRONMENT?

Precautionary Principle??? : 

Precautionary Principle??? Sadly, the Principle does not drive relevant, common sense decisions in most corporations today!!  BP reportedly saved $500,000 by omitting a remote acoustical emergency valve. The Precautionary Principle is relevant to protection of human rights as well as to the environment- The Deepwater Horizon disaster is not just an environmental catastrophe it also is a human rights disaster-  people who rely on the ocean for fishing, and the right to a  healthy environment Source: http://csrwiretalkback.tumblr.com/post/587197660/in-the-aftermath-of-the-deepwater-horizon-oil-disaster

WE ARE IN CRISIS!!!! : 

WE ARE IN CRISIS!!!! Has this crisis added fuel to the existing problem of peak oil?? How are we going to tackle it?? What lessons are we going to learn??

Current Paradigm: MCE : 

Current Paradigm: MCE Market Cost Efficiency: market price Market Price < Ecological Price Market Cost Efficiency (MCE) < Ecological Cost Efficiency (ECE) Gap between MCE & ECE has to be closed Source:www.greenpeace.org

Need to shift from MCE to Ecological Efficiency (EE) : 

Need to shift from MCE to Ecological Efficiency (EE) EE: Key Concept of  Green Growth EE is Internalize Ecological Cost Maximize Resource Efficiency Minimize Pollution Impact Source: http://energybulletin.net/

Paradigm Shift from High to Low Carbon Paradigm : 

Paradigm Shift from High to Low Carbon Paradigm Source: www.wwf.org

Way out ! : 

Employ flotation method Oceans are more resilient ecosystems than land;there is room for hope Employ safer technology Eco friendly clean up Act beyond political and administrative boundaries Joined up thinking , working and action Way out ! Source: http://topnews.co.uk/27009-costner-launches-oil-spill-cleaner-device

Conclusion : 

Conclusion Need Market and Private Sector Dynamism Improve Commercial Viability of Investment What is lacking is not money and technology In fact we have too much money and enough technology. Once we can design a mechanism which can improve commercial viability of mitigation investment  money & tech will flow to Mitigation

THOUGH NATURE WILL DO ITS PART- WE RATIONALS HAVE TO WAKE UP TO MAKE HER CLEAN : 

THOUGH NATURE WILL DO ITS PART- WE RATIONALS HAVE TO WAKE UP TO MAKE HER CLEAN IMAGE SOURCE: http://earthrehab.wordpress.com/2010/01/

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