Problem:
Blue Star Steamship Lines (BSSL), Inc., wants to explore South American oil reserves.
For the past ten years, BSSL has wanted to develop lucrative South American oil reserves for its exploration, drilling, refining, and transport division; BSSL's Oil Division has been limited to Siberia and the South China Sea up to this date, and was precluded from entry into business in Iraq by United States law and U.N Sanctions.
Discuss whether the present situation in South America presents new opportunities for BSSL to expand its market share into South America, the legal and ethical risks and benefits, both short term and long term, of attempting to do so, and identify the government(s) and/or organization(s) with whom BSSL should deal should the company embark on a business venture in South America.