Free Essays on OPEC

The Organization of Petroleum Exporting Countries is better referred to the greater part of the world as OPEC. Be that as it may, the normal resident thinks minimal about the reasons OPEC impacts the world economy. OPEC is a gathering of eleven countries that sells oil on the world market. Oil creating countries in the 1960’s found that when they cooperated they could apply power over the world oil costs. This was the beginnings of the oil cartel known as OPEC. The first OPEC individuals included Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Today as of now eleven countries are OPEC individuals; representing practically 40% of world oil creation and around 2/3 of the world's demonstrated oil saves. (OPEC Brief) A cartel endeavors to help costs higher than they would be under progressively serious conditions along these lines expanding benefits of its individuals. (Carbaugh) They can do this by limiting rivalry among contending countries utilizing creation amounts. Before the development of OPEC oil creating countries carried on like individual contenders, every country reluctant to bring their costs up in dread that different countries would not do likewise and the country that raised their costs would lose its sells. Despite the fact that there are still some minor issues and contrasts between oil creation individuals, OPEC has figured out how to be the best cartel ever. For a cartel to be fruitful its individuals must control an extremely enormous portion of the world market and ought to concede to a typical arrangement of costs on their item. (Carbaugh) In the 1960’s the cost of oil was three dollars a barrel. In the mid 70’s costs start to ascend as the cartel cooperated. Since that time oil costs have never been the equivalent. Most cartels make some hard memories conquering the challenges that are related with cartels. OPEC has experienced a portion of similar issues. A portion of the issues include: Number of venders: as the individuals number increment, the harder it becomes it is to frame a ca... Free Essays on OPEC Free Essays on OPEC The Organization of Petroleum Exporting Countries is better referred to a large portion of the world as OPEC. Be that as it may, the normal resident thinks minimal about the reasons OPEC impacts the world economy. OPEC is a gathering of eleven countries that sells oil on the world market. Oil creating countries in the 1960’s found that when they cooperated they could apply authority over the world oil costs. This was the beginnings of the oil cartel known as OPEC. The first OPEC individuals included Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Today at present eleven countries are OPEC individuals; representing practically 40% of world oil creation and around 2/3 of the world's demonstrated oil holds. (OPEC Brief) A cartel endeavors to help costs higher than they would be under progressively serious conditions along these lines expanding benefits of its individuals. (Carbaugh) They can do this by confining rivalry among contending countries utilizing creation shares. Before the development of OPEC oil creating countries acted like individual contenders, every country reluctant to bring their costs up in dread that different countries would not do likewise and the country that raised their costs would lose its sells. Despite the fact that there are still some minor issues and contrasts between oil creation individuals, OPEC has figured out how to be the best cartel ever. For a cartel to be effective its individuals must control an enormous portion of the world market and ought to concede to a typical arrangement of costs on their item. (Carbaugh) In the 1960’s the cost of oil was three dollars a barrel. In the mid 70’s costs start to ascend as the cartel cooperated. Since that tim e oil costs have never been the equivalent. Most cartels make some hard memories defeating the troubles that are related with cartels. OPEC has experienced a portion of similar issues. A portion of the issues include: Number of venders: as the individuals number increment, the harder it becomes it is to shape a ca...

Music Research Paper Example | Topics and Well Written Essays - 750 words

Music - Research Paper Example ifferentiated impacts of Romanticism in music can be recognized, for example, the move towards more noteworthy opportunity in both the structure and the plan of melodic pieces. Beforehand, music had been progressively redirected to relating the genuine and the occurrence. Sentimentalism started to change the practical position of music by acquainting new components with music that depended in enormous part on creative mind and dream. The expansion of the component of experience in nineteenth century music is likewise evident (Beard and Gloag). The Romantic Movement put an incredible accentuation on designing new sorts of expressive tunes that were melody like in their general structure. This implied the new music being delivered commonly had more extravagant harmonies to show alongside a daring balance. This implied music was regularly chromatic †an attribute that was accomplished utilizing a striking usage of dissensions. Music from this period additionally presents a more prominent feeling of equivocalness (Schmidt-Jones and Jones). This created vagueness is increasingly observable as far as the general tone and the different consonant capacities that form it. Also the cadence of the music from this period is more questionable than from previously. Another significant confinement of past music creations was their constrained dependence on pitch. The Romantic Movement can likewise be acknowledged for giving music striking and frequently intense complexities that were accomplished through the investigation of wide extending pitches. Other than the pitches, the investigation of different elements and separated tones is additionally a steady element of nineteenth century music. The emotional change of sounds present in nineteenth century music was just conceivable on the grounds that bigger and increasingly complex symphonies were being utilized. When differentiated to past ensemble courses of action, the new symphony game plans could be viewed as huge in numbers and the assortments of instruments being utilized. The transition to bigger symphonies was likewise encouraged by the innovation of the valve framework. The

Religious language is meaningless Essays - Philosophy Of Religion

Strict language is aimless Essays - Philosophy Of Religion Strict language is good for nothing. Talk about. Strict language is the correspondence of thoughts regarding God, confidence, conviction and practice. The issue with strict language is that people have various translations of these ideas and will bring about a distinction in the utilization of regular language. For some it is considered useless on the grounds that it is ambiguous and the importance is hazy. However, for certain rationalists, strict language is important and fills a need. Strict language is important on the grounds that we dont realize how to distort it. John Hick referenced strict language was viewed as trusting in something and encountering something. The sensible positivists planned the confirmation rule and they were worried about the significance of words and the manner in which we use them with regards to God. They trust Gods talk was good for nothing as they are mystical explanations. They accepted for an announcement to be regarded important we must have the option to check reality hood through our exact faculties. Ayer, who was a supporter of the Verification Principle, said a recommendation is important in the event that it is realized how to refute it valid or. On the off chance that such check can't happen, they become pointless. He expressed there were two kinds of the check rule, the solid structure and the powerless structure. The frail check guideline is realizing how to confirm an announcement. It would get significant on the off chance that you realize how to do this. The solid type of the check rule was having the option to refute something valid or through sense understanding. Ayer likewise said to dismiss expository explanations would be outlandish in light of the fact that you can't attempt to invalidate something that is in reality obvious as you would negate yourself. Numerous thinkers tested the check guideline and dismissed it. A fundamental pundit was John Hick. He said the standard itself isn't significant in light of the fact that it can't be confirmed utilizing the confirmation guideline. Hick contended when we bite the dust reality of Gods presence will be checked either evident or bogus. This is known as the eschatological confirmation. It must be confirmed the day we bite the dust. Anthony Flew set forward the distortion standard. Misrepresentation intends to refute something valid or. The distortion guideline acknowledges an announcement is irrefutable on the off chance that it is realized what experimental proof could represent a mark against it and refute it. Aquinas contended that we just have our everyday language which we can use to discuss God. We comprehend when a word is applied to God; it has an alternate significance from its regular use as we comprehend God is great. Along these lines we are utilizing analogies. There have been a few pundits who contended there must be a relative component to any human language used to portray God. This is unthinkable as God is past any obvious human comprehension. Analogies are futile in depicting God as they are restricting God to what he really is. Aquinas oppose this idea. He contended there is a connection between the world and God. God made the world and continues it so there is a reasonable correlation. He proceeded to create two types of relationship to discuss God. Similarity of extent and relationship of attribution. Similarity of extent is the place the relationship is comprehended for each situation as corresponding to the idea of the being. We need to place God in relation to ourselves to see how everything functions. Similarity of attribution identifies with the conviction that God made and continues the world. It is a result of this conviction we can discuss human characteristics. Here and there those characteristics can be applied back to God. We can talk up to God utilizing a similar language. The main issue about the two analogies is they possibly work on the off chance that you have past information on God. In the event that you trust God is all-powerful, omniscience and so forth, it bodes well to utilize a similarity. Be that as it may, without these presumptions it turns out to be less persuading. Tillich utilized normal language to highlight God however discussed the words utilized as images. He recognized a sign and an image. A sign is a traditional method of highlighting something, for example a street sign. An image is something that stands or is utilized instead of something different. Tillich held God must be portrayed utilizing images

Your Guide to the July ACT What Parents and Students Need to Know

The New Summer Test Date Can Help Rising Seniors Finish Their Testing Before The School Year Juniors: Still need to take the ACT but worried you’re running out of time? Fear not! You now have more chances than ever to wrap up your test prep before senior year, even with the school year coming to a close. This year will mark the first administration of the July ACT, which will be held on July 14. Following the College Board’s addition of the new August SAT test date last summer, the ACT revealed in 2017 that they would be adding a July sitting starting in 2018. With finals, AP exams, and wrapping up the school year, many students don’t have enough time to properly dedicate to their test prep. As such, the ACT found that adding a new summertime test date would allow students to focus on finishing the school year successfully, and then dedicate their efforts to their ACT prep in order to get the best scores possible. The DetailsStudents taking the ACT now have seven chances to sit for the exam. Although the SAT also has seven administrations, students cannot sit for Subject Tests (which are required for admission at many colleges) and the SAT I in the same administration, limiting their opportunities to maximize their scores on both exams. With the addition of an ACT test date, and the obstacle of prioritizing when to take Subject Tests vs. the SAT, students may be further inclined to take the ACT due to the number of opportunities they have to sit and master the exam. Since there are no testing sites in NY, CA, or internationally for the July ACT, students and parents should be proactive in registering as soon as possible, because seats may be gone faster than usual. The registration deadline is on June 15th (with the late registration window open from June 16th to the 22nd) and students can expect to receive their scores between July 24th and August 27th, well in advance of any college application deadlines. For more information of the July ACT, you can visit the ACT’s website. How does this affect high school juniors?In previous years, current juniors/rising seniors who wanted to improve their ACT scores before early action/decision applications were due had two options to retake the exam during their senior year: September (the safer option) and October (which cut very close to November 1st deadlines). With the addition of the July exam, rising seniors can now try to close this chapter of their high school careers before the school year begins. Wrapping up testing in July may mean having more time for social activities and extracurriculars early in the school year! Since this is your last year in high school, you probably will want to make memories with your friends instead of remembering the rules of SOHCAHTOA or how to use a semicolon. Of course, if you have heavily involved summer plans such as pre-college programs, internships, or immersion trips that overlap late-June and July, you should likely explore the September or October options instead. How does this affect younger students?Now that the July ACT is an established test date, this could impact the testing trends in years to come. Instead of using the fall or winter for their first test date, some ambitious rising juniors may aim to get a head start with their testing and sit in July as their first sitting. Prepping for their first ACT in July and then aiming for the September exam could keep these younger students engaged with their academics and put them ahead for the school year – not only by getting their standardized testing out of the way, but also in terms of being fresh and prepared for what’s to come once school begins. Since summertime testing is still quite new, there is not much data or experience to support what results may look like or the popularity of the July test date. However, if we base our predictions off of the popularity of last year’s August SAT, then students should aim to sign up as soon as possible. Again, the registration deadline for the July ACT is on June 15th (with the late registration window open from June 16th to the 22nd) and students can expect to receive their scores between July 24th and August 27th. If you’re considering taking the July ACT or the August SAT, and need some help with your summer test prep, fill out the form below to receive more information on our tutoring and test prep services! //

British Imperialism Of The Nineteenth Century - 3025 Words

According to Keep and Ronall (1999), â€Å"the degree to which British imperialism of the nineteenth century was invested in and maintained by the global traffic in addictive substance is well documented. At mid-century, opium was a major export commodity for Britain’s largest colony, India, and the British government was very sensitive to the profits that could be realized through the sale of the drug. Keep and Ronall claimed that â€Å"addiction was use in the policing of â€Å"otherness† that occurs through the science education† (207-09). Due to limited evidence to prove the rational of widely held ideology of the poor, addict, mentally-ill, homosexual, criminals, and those hated, exclusively induced authoritative actions in engaging with these groups; nevertheless this impact â€Å"scientific or quasi-scientific† assumptions of â€Å"poverty, addiction, mental illness, homosexuality, and criminology. Also, there are many abstraction which backs thes e hypothesis precisely or obliquely (Movahedi, 1978, p. 45) Movahedi (1978) explains that, in the domain of drug use, fewer authors have currently attempted a â€Å"sociohistorical† reasoning of the evolution of prominent interpretation and also scientific ideology of addiction, and have unmask the racist and class-oriental elements of divers drug-related concerns. He argues that, â€Å"the work of these writers as well as the classic study of Lindesmith (1968) suggested that the behaviourShow MoreRelatedNineteenth-Century British Imperialism Essay544 Words   |  3 Pages Were Economic Factors Primarily Responsible for Nineteenth-Century British Imperialism?nbsp;nbsp;nbsp;nbsp;nbsp; nbsp;nbsp;nbsp;nbsp;nbsp;In society today the almighty dollar is what motivates most people’s actions. However, there are other reasons that can promote a change within a system such as morals, religious beliefs, values, and ethics. During the nineteenth century, society was not much different from that of the present day as the economy remains one of the most important partsRead MoreImperialism And Its Impact On The Domestic Institutions Of Africa Essay1525 Words   |  7 PagesImperialism, when one country dominates another for its own benefit, is an expansion policy that has reigned for centuries. Over time, imperialism has drastically changed in its magnitude and severity. At the turn of the nineteenth century, a â€Å"new,† more aggressive and competitive form of imperialism emerged and completely dismantled the domestic institutions of various developing countries. Africa in the nineteenth century is a prime example of the â€Å"new† imperialism in effect. How was Africa affectedRead MoreEssay on Hearts of Darkness: Post Colonialism850 Words   |  4 Pagesbetween the nineteenth and twentieth centuries. During the nineteenth century certain concepts in the story were considered unthinkable such as cannibalism. The cultural relativism (which basically says that right and wrong a re culture-specific) was a strong sensibility during the nineteenth century which is why it was addressed in this story. Modern readers of Hearts of Darkness may find the racial slurs used throughout the story to be offensive. However, in the nineteenth century things wereRead MoreNotes on Colonialism and Imperialism1489 Words   |  6 PagesChapter 33 Notes * Foundations of empire * Motives of imperialism * Modern imperialism * Refers to domination of industrialized countries over subject lands * Domination achieved through trade, investment, and business activities * Two types of modern colonialism * Colonies ruled and populated by migrants * Colonies controlled by imperial powers without significant settlement * Economic motives of imperialism * European merchants and entrepreneurs made personalRead MoreThe Far Reaching Effects of Imperialism1323 Words   |  5 PagesWith the dawn of the Industrial Age near the beginning of the nineteenth century also came with the rise of nationalism, or the belief that a country’s way of life was superior to others. Nationalistic ideologies, born in the coal ovens of Industry, soon gave way to systems of imperialism that would quickly take hold in other parts of the world. For the purposes of this essay, can be broadly defined as a symbiotic relationship between an industrialized state and an agrarian state in which the industrializedRead MoreColonialism And Imperialism In Europe1440 Words   |  6 Pagesimposed its economic model, its values, ideals and its culture to a large part of the world. Imperialism can be defined as the system in which the politics, economy and culture of one part of the world are organized according to the domination of some countries over others. The imperialism that emerged in the nineteenth century was the culmination of colonialism initiated in the fifteenth and sixteenth centuries. But both forms of colonial domination were very different. The old colonial empires haveRead MoreImperialism And Its Impact On Society Essay1425 Words   |  6 PagesResponse 1: Imperialism Gaining complete dominance within a society can be viewed as a lion taking control over its land. These lions can be regarded as a powerful empire, as they live among other preys fighting for supremacy. In History it has been said that â€Å"A nation that did not expand would not survive† (American Passages, 529). Imperialism is a prime example of a group of prey fighting for sovereignty, within this land we come across the lions, otherwise known as the nations who control theRead MoreWhat attracted European imperialism to Africa to Asia in the late nineteenth century.1585 Words   |  7 PagesMortimer Chambers et al define imperialism as a European state s intervention in and continuing domination over a non-European territory. During the Scramble for Africa in the late nineteenth century, the most powerful European nations desired to conquer, dominate and exploit African colonies with the hope of building an empire. According to Derrick Murphy, in 1875 only ten percent o f Africa was occupied by European states. Twenty years later only ten percent remained unoccupied. There wereRead MoreThe Factors Of Economics Was Or Was Not The Primary Reason For British Imperialism1198 Words   |  5 Pagesdiplomacy or military power as imperialism. Imperialism has been the most dominant powerful force in the last four to five centuries in civilization. Imperialism has formed civilizations in entire continents while pushing out the indigenous people and destroying other civilizations in the meantime. In this case, we look at whether the factors of economics was or was not the primary reason for British Imperialism. Robert Huttenback believed that British Imperialism was a result from economic factorRead MoreEssay on Imperialism: From Europe to The West1514 Words   |  7 PagesEarly in the twentieth century, imperialism was brought up by European powers of the time; Germany, Great Britain, France, and Russia. These nations were after raw materials in Asia, Africa, and South America and when they realize that they could not retrieve it, they began to colonize smaller counties that contain the many resources they need and used it for their benefit. Western values played a big part in European imperialism. European civilization experienced a period of extraordinary rapid

Reaction to the Character of Mrs. Mallard in The Story of...

Reaction to the Character of Mrs. Mallard in The Story of an Hour by Kate Chopin In â€Å"The Story of an Hour,† Kate Chopin describes to her readers a young woman’s response to her husband’s death, or at least his presumed death. The opinions readers will draw from this story will vary from person to person due to personal experiences. The experience and wisdom that I have gained through the trails and tribulations of my life help me to understand, relate, and even despise Mrs. Mallard’s character. On one hand, I feel pity for Mrs. Mallard. I think she felt trapped in a situation that she found to be inescapable. She felt lonely, restless, and did not know how to help herself. Yet, on the other hand, I do not feel sorry for†¦show more content†¦In addition, I believe this fact disappoints her to the point where she seems to feel that life is not worth living without freedom. I think Mrs. Mallard felt trapped in her marriage, a marriage where communication no longer existed. I believe this caused her to feel very alone and restless in her marriage. In the late nineteenth century, women basically had little or no rights. It was thought that women’s sole purpose in society was to marry, have children, and to care for their family and household. Women of this era were not allowed to satisfy their own wants and desires. Therefore, we can assume that Mrs. Mallard got married at a young age. This fact, along with the crumbling of her marriage caused her to feel lost in a world where she knew not even herself. The fact that she was unable to experience life for herself resulted in her yearning desire for independence. These explanations contributed to Mrs. Mallard’s overwhelming enjoyment of her newfound freedom. I know how it is to feel trapped in a relationship that is going bad. One feels there is no reasonable way out; this can cause a person to become lonely and impatient for independence. The fact that I have experienced a similar situation enables me to relate to the character of Mrs. Mallard and can justify the feelings of sympathy and compassion I have towards her. In addition, I know how exciting it is to be able to experience life, adventures, and independence. In this way, I understand Mrs.Show MoreRelated Irony in Kate Chopins Story of an Hour Essay796 Words   |  4 Pagesin Chopins Story of an Hour    Irony is a useful device for giving stories many unexpected twists and turns. In Kate Chopins The Story of an Hour, irony is used as an effective literary device. Situational irony is used to show the reader that what is expected to happen sometimes doesnt. Dramatic irony is used to clue the reader in on something that is happening that the characters in the story do not know about. Irony is used throughout Chopins The Story of an Hour through theRead More The Differences in Josephine and Mrs. Mallard of Kate Chopins The Story of an Hour760 Words   |  4 PagesThe Differences in Josephine and Mrs. Mallard of Kate Chopins The Story of an Hour Free! Body and soul free!, Mrs. Mallard kept whispering. One persons ultimate freedom may be seen as a tragedy to another. Kate Chopin illustrates this idea in The Story of an Hour. The story is set in the nineteenth century. Chopin uses the death of Mr. Mallard to show the reader Mrs. Mallards deep feelings. In the story, Josephine and Mrs. Mallard are sisters. Although the women come from the sameRead More Irony in Kate Chopins The Story of an Hour Essays1295 Words   |  6 PagesIrony in Kate Chopins The Story of an Hour A very dull and boring story can be made into a great story simply by adding in something that is unexpected to happen. When the unexpected is used in literature it is known as irony. An author uses irony to shock the reader by adding a twist to the story. The author of â€Å"The Story of an Hour† is Kate Chopin. Her use of irony in the story is incredibly done more than once. Irony is thinking or believing some event will happen but in return the unexpectedRead MoreThe Story of an Hour† by Kate Chopin Essay1528 Words   |  7 Pagesâ€Å"The Story of an Hour† by Kate Chopin â€Å"The Story of an Hour† by Kate Chopin is very intriguing, not only because of the emotional change Louise Mallard goes through the hour after her husband’s tragic death but also the way Chopin uses irony in the story. During this analysis of â€Å"The Story of an Hour† we will discuss the summary, plot, setting, tone, theme, point of view, emotions of Louise Mallard and other characters involved in the story. Chopin’s story uses the feelings of a married womanRead MoreThe Death From The Emotions1200 Words   |  5 Pagesthe Emotions In the short story The Story of an Hour written by Kate Chopin, Louise Mallard, the main character, is told that her husband, Mr. Brently Mallard, is dead in a railroad disaster. This short story is interesting mentioning the inner happenings of Louise character within an hour when she hears the news from her husband’s death until seeing her husband, peaceful and healthy, appearing at the downstairs. Although the story is told quite simple within only one hour of time, readers can realizeRead MoreThe Story of a Widow in Kate Chopins The Story of an Hour Essay840 Words   |  4 Pagespersistence with which men and women believe they have a right to impose a private will upon a fellow-creature.† Kate Chopin’s â€Å"The Story of an Hour† is the story of a woman’s reaction to the news of her husband’s passing. Mrs. Louise Mallard is a young woman most would conclude to be saddened by the passing of her husband. Yet it is in that very moment we f ind her true feelings. Kate Chopin was born Katherine O’Flaherty on February 8, 1850 in St. Louis Missouri. She was the only child born to her parentsRead MoreHow Did Kate Chopin Influence Literature949 Words   |  4 PagesKate Chopin’s distinct influence in literature Kate Chopin was an innovative influence for literature in the late 1800’s. Her stories and characters conflicted with the societal norms of inequality towards women. Women in the 1800’s were oppressed, and treated more like property than individuals. Living in the 1800’s as a woman meant they had no rights, or power to create a life of their own. The men, in that period of history, held all prestige positions; therefore, formed all of the laws, and socialRead MoreA Womans Brief Freedom in The Story of an Hour Essay845 Words   |  4 Pages The Story of an Hour, was written and narrated by Kate Chopin. Chopin utilized an omniscient point of view, while exhibiting various types of irony throughout the story. The story takes place in the 19th century, an era when it was acceptable for men to regulate their wives. The setting is in a house where a discontented housewife is restricted. Women were obligated to take care of their domicile and care for the childr en--this was their primary purpose as a wife. The story focuses on theRead MoreStory Of An Hour Critical Analysis770 Words   |  4 PagesKate Chopin’s short story, â€Å"The Story of an Hour (1894),† portrays that the confinements placed on women due to gender roles was unjust. Chopin illustrates this through the progression of Mrs. Mallards emotions and thoughts after learning of her husbands supposed death, as well as alluding to their form of marriage. Chopins purpose is to point out how unjust woman were treated in society in order to bring about change on such treatment. Given the time period, Chopin dedicated her short story toRead MoreStylistic Features in The Story of an Hour by Kate Chopin Essay1174 Words   |  5 PagesThe Story of an Hour Authors of literary work have always employed stylistic devices to pass their message, Kate Chopin was no exception. She employs a number of styles in her book, the story of an Hour. Just like any author she achieves storytelling in a simple and straight forward manner. Some of the stylistic devices she uses are: description, internal monologue, authorial intrusion contrast, figurative expressions, symbolism among others. This paper discusses the use of stylistic features

Accounting Theory for BP Case -MyAssignmenthelp.com

Question: Discus about theAccounting Theory for BP Case. Answer: Introduction The ignorant behavior of BP leads to a massive leakage of crude oil into the Gulf of Mexico that disturbed the smooth functioning of the entire area. Many other activities came to a grinding halt such as fishing, tourism, etc. The aftermath of the oil spill was disastrous in nature and due to it, many industries shut down its operations so prevent any further losses. The share of the BP underwent a huge change and a sharp decline was observed that can be cited to the oil spill. However, BP took the liability to sustain the overall environment. The activities were composed of clean-up, compensation, research activities, etc. Companies that are associated with the oil spill have to face many torments as they are responsible for damaging the entire situation and needs to clear the spill along with a huge compensation (Fodor Stowe, 2010). Innumerable lawsuits were attracted as the disaster affected to more than 490 miles affecting different states like Florida, Mississippi, etc. Legitimacy Theory Social contract acts as the basis or platform of legitimacy theory by which the companies ensure secure access to the resources due to a positive link with the society. A form of disproportion or variation poses a threat to the legitimacy which is a major issue for the company, striking a breach of the contract. The performance of the organization is a way to build reputation and social value in the society, on which the company relies. The limiting of the resources and breaking of ties with the stakeholders follow legitimate threat which can be a hazard to the survival of the company at any point of time (Stigler, 1972). Legitimacy crisis followed the big environmental accident due to the oil spill, in the case of BP. It actually shook BPs legitimacy. The oil companies need to have a positive pattern of acknowledgment in the annual report, so as to ensure a proper response to the public (Jefferson Bowling, 2011). But no above-mentioned history of such disclosures was found in BPs a nnual report. Clear absence of emergency procedure and actions was found on the part of BP which needs to be followed when there is a spill (Cherry Sneirson, 2010). It was examined that neither preventive measures nor any steps were taken before the incident which in turn highlights that BP flouted the legitimacy theory. Symbolic disclosures were one of the ways tried by BP to regain the legitimacy. An immediate investigation was set up to look into the reason of the spill followed by various methods to assure the prevention of further incidents. The acknowledgment pattern of the BP annual report provides a straight answer about the disclosure it has made for the current scenario. Public Interest Theory Major work done by the institutions and the company in securing the efficiency of the economy is contained in the public interest theory. Tracing of the positive and services that vanished from the ecosystem is a difficult job for the trustees. Depending on the politician's role it is the major function of the agencies to take immediate actions when the situation demands (Mason, 2010). Evaluation of the damages and focusing on the practical scenario was done by the agencies. No topic or any clause highlighted the steps taken by the company for the benefit of the economy or the public, going according to BPs annual report (Broder Krauss, 2011). Public interest theory was never applicable in the case of BP because it never paid any attention towards the growth or benefit of the economy, going by the oil spill disaster. Stakeholder Theory A look into the way in which the stakeholders interact and the type of impact or influence they have on the organization is contained in the stakeholder theory. Organizational activities and the results make the stakeholders eligible for various rights because it is clearly known that the company works with the help of social contracts (Pigou, 1932). Currently, the stakeholder theory goes far beyond the legitimacy theory. Organizations successful in creating positive and strong links with their stakeholder's overlaps and defeat the ones who fail to create a link strong enough. Stakeholder theory highlights that ethics that considers the environment related to both social and physical should be adhered by the organizations (Stigler, 1972). Attention is automatically driven towards such stakeholders that pose a serious to the operations rather than the ones who contribute towards the achievements, as per the stakeholder theory. Along with the entire Gulf Coast, a small village was also affected due to the accident that took place on April 20. An all over economic activity of $40 billion was reported fishing and tourism as the main affected regions. Considering a long run, the habitats of the regions have an indirect control or power over BP rather than a direct control (BP Plc, 2014). Further development followed by restoring whats destroyed should be the plan of BP to ensure a positive relationship with the communities of the Gulf Coast. To resettle social legitimacy it is important for BP to upgrade their relations with the ace stakeholders, as per the stakeholder theory. The U.S. public was outraged and in immense anger after the disastrous incident. A trust of $20 billion was set up by the U.S. federal government who took an active part in the restoring process after considering the situation. Association of Theories with the Accounting Record A company seen as a legitimate by the society should work under some prescribed rules and regulations as a fact of the legitimate theory. It is clearly linked to the social contract theory as the theory throws light on the fact that the companies are required to equalize the expectations that the society feels about them and their, manner of operation. The companies need to establish that that the right way to maintain legitimacy is disclosure (Broder Krauss, 2011). The limitation of the information about the oil spill quantity led to BPs accusation and also a rugged mistrust of the people for BP. Hence, well-informed stakeholders would help BP to stay legitimate. The fragility of the market and the ineffective performance of the company if left to operate alone are the major fundamentals implied by the public interest theory. Huge downfall and the disaster was the cause of lack of resources for enforcement. Also, the lack of adequate resources led to the ineffective work of the agencies. The implication of ethical management is steadily advised by the stakeholder theory and it also states alternate stakeholders. Rear to the oil spill, a wave of dissatisfaction and outrage was faced on the part of BP. But a huge sum of $11.2 billion was allocated by Bp which helped it to move in the correct direction (Jacobson, 2013). Role of Regulators For the smooth functioning of the company and also to maintain a balance in the company, to take the company forward, the role of the regulator is very important. Regulators guarantee that the company is making a positive and favorable image in the eyes of the people as well in the market by accumulating public benefits (Upton, 2011). Establishment of a strong and durable foundation according to the norms requires a vital and strong role of the regulator. Drilling and the deepwater area received the very small amount of attention from BP (Broder, 2012). It is clear from the case of BP that there was a lack of major and important resources for the agencies which were needed for the safeguard of the public. Lack of review scheme and the outdated or old provisions were the main reasons which led to the downfall of OCSLA. Position It is strongly needed by the company to adhere to regulations so that any negative impact can be negated. The public interest theory is important because the public interest theory carries a huge advantage. The company that does not contain a public interest theory needs to bring it under implementation as it needs to be responsible for the acts. The regulations tend to lay a better scope for the economic development and benefit the society at large. Therefore, the imposition of penalties on BP is correct and it needs to take a strong stand regarding the future course of actions. Conclusion Companies like BP that has a strong influence in the market must ensure a strong safety mechanism that will help in eliminating the liability. The disaster of Oil Spill was a major eye opener that disturbed the entire region and led to massive losses for BP. The aftermath affect of the spill ran huge for BP whereby BP sold many assets to compensate for the loss. $30 billion assets were sold for the process of cleanup and legal claims. More than 20% of the assets were sold to compensate for the loss. Going by the overall situation it can be commented that the rules were flouted by BP and that the fines and penalties were correct in nature. It Is the duty of the corporate to look after the society and ensure that the activities should not harm the society. Rather, preventive measures should be taken so that the chances of problematic activities are eliminated. 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