Just about a year ago, the oil rig Deepwater Horizon exploded in the Gulf of Mexico, triggering one of the largest oil spills in history. A year later, the full impact — economic, social, psychological and environmental — remains unknown. But the BP disaster, like the unfolding catastrophe at the Fukushima nuclear power facilities, is a reminder that risk is unavoidable and that we must better understand, anticipate and plan for crises. Thus far, we (as a species) have shown a remarkable tolerance for failure — even failures we did not need to accept.

On April 20, 2010, while drilling an exploratory well at a water depth of 1,500 meters, methane gas leaked into the bore hole, shot up the drill column and exploded when it hit the surface, killing 11 operators working on the Deepwater Horizon and injuring 17 others. The "blowout" resulted in a flood of oil leaking into the Gulf: It is estimated that 5 million barrels (about 779,000 cubic meters) of crude oil leaked for 85 days before the well was capped.

Experts and officials agree that the spill was the worst environmental disaster in U.S. history. Putting an exact cost on the damage has been difficult, however. BP, the owner and principal developer of the site being explored, set aside $20 billion to cover claims by victims of the disaster.