BP Deepwater Horizon Gulf Oil Spill: Economic Impacts

The economic costs of the Gulf oil spill is being counted in billions of dollars, according to recent news reports, and will hit coastline industries, such as Louisiana’s oyster and shrimp industry, the hardest. Tourism along the Gulf Coast is suffering, and will continue to do so, as visitors who normally flock to the coast for recreation, fishing, swimming and boating will be deterred by cleanup efforts, beach closures, and the fear of the long term effects caused by the spill. For those who live and work on the coast, the impact will be most severe, as coastal fisheries are the lifeblood of these communities.