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Deepwater Horizon disaster could have billion dollar impact

Date:
February 17, 2012
Source:
Canadian Science Publishing (NRC Research Press)
Summary:
The Deepwater Horizon oil spill in the Gulf of Mexico in April 2010 will have a large economic impact on the US Gulf fisheries. A new study says that over seven years this oil spill could have a $US8.7 billion impact on the economy of the Gulf of Mexico. This includes losses in revenue, profit, and wages, and close to 22,000 jobs could be lost.

The Deepwater Horizon oil spill in the Gulf of Mexico in April 2010 will have a large economic impact on the U.S. Gulf fisheries.
Credit: forcdan / Fotolia

The Deepwater Horizon oil spill in the Gulf of Mexico in April 2010 will have a large economic impact on the U.S. Gulf fisheries. A new study published in the Canadian Journal of Fisheries and Aquatic Sciences (CJFAS) says that over 7 years this oil spill could have a $US8.7 billion impact on the economy of the Gulf of Mexico. This includes losses in revenue, profit, and wages, and close to 22 000 jobs could be lost.

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"Unlike the visually obvious and immediate effects on birds and mammals, the effects of oil on fisheries can be more difficult to detect, though they are no less devastating," says lead author U. Rashid Sumaila. "Oil and hydrocarbons are taken up by plankton and other surface-dwelling species that link to aquatic food chains." This in turn affects the fishing industry.

The Deepwater Horizon, a British Petroleum oil rig, exploded in the Gulf of Mexico on 20 April 2010. By August 2010 it was estimated that it had leaked an estimated 4.9 million barrels of oil (780 million L), making it the largest accidental marine oil spill in US waters. In comparison, the Exxon Valdez oil spill in 1989 amounted to less than 0.5 million barrels. This study estimates the economic impact this spill will have on commercial and recreational fisheries and mariculture in the Gulf of Mexico.


Story Source:

The above story is based on materials provided by Canadian Science Publishing (NRC Research Press). Note: Materials may be edited for content and length.


Journal Reference:

  1. Sumaila, U.R., Cisneros-Montemayor, A.M., Dyck, A., Huang, L., Cheung, W., Jacquet, J., Kleisner, K., Lam, V., McCrea-Strub, A., Swartz, W., Watson, R., Zeller, D., and Pauly, D. Impact of the Deepwater Horizon well blowout on the economics of US Gulf fisheries. Canadian Journal of Fisheries and Aquatic Sciences, 2012 DOI: 10.1139/F2011-171

Cite This Page:

Canadian Science Publishing (NRC Research Press). "Deepwater Horizon disaster could have billion dollar impact." ScienceDaily. ScienceDaily, 17 February 2012. <www.sciencedaily.com/releases/2012/02/120217115553.htm>.
Canadian Science Publishing (NRC Research Press). (2012, February 17). Deepwater Horizon disaster could have billion dollar impact. ScienceDaily. Retrieved November 24, 2014 from www.sciencedaily.com/releases/2012/02/120217115553.htm
Canadian Science Publishing (NRC Research Press). "Deepwater Horizon disaster could have billion dollar impact." ScienceDaily. www.sciencedaily.com/releases/2012/02/120217115553.htm (accessed November 24, 2014).

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