VOICED:BP share price dives on oil spill concerns

The BP oil spill in the Gulf of Mexico, caused by an offshore rig explosion, has led to significant environmental and financial repercussions for the company. BP has accepted full responsibility and is facing cleanup costs, lawsuits, and a damaged reputation. The incident has also resulted in human casualties and threatens local livelihoods. This is not BP's first major incident, as a previous explosion in Texas also caused significant harm. The company's financial stability and reputation are at risk, with potential long-term impacts.

What are some potential long-term effects on BP's reputation due to the oil spill?

What previous incident in 2005 also tarnished BP's reputation?