Environmental impact of the Deepwater Horizon oil spill Environmental impact of the Deepwater Horizon oil spill The 2010 "Deepwater Horizon" oil spill in the Gulf of Mexico has been described as the worst environmental disaster in the United States, releasing about of crude oil making it the largest marine oil spill. Both the spill and the cleanup efforts had effects on the environment. The oil spill was called the "worst environmental disaster the US has faced" by White House energy adviser Carol Browner. The spill was by far the largest in US history, almost 20 times greater than the usual estimate of the Exxon Valdez oil spill. Factors
Deepwater Horizon oil spill pension fund managers (who have large holdings of BP shares and rely upon its dividends) accepted that while BP had to pay compensation for the spill and the environmental damage, they argued that the cost to the company's market value from President Obama's criticism was far outweighing the direct clean-up costs. Initially, BP downplayed the incident; its CEO Tony Hayward called the amount of oil and dispersant "relatively tiny" in comparison with the "very big ocean." Later, he drew an outpouring of criticism when he said that the spill was a disruption to Gulf Coast residents and himself adding, "You