Sadly, after the explosion of a British Petroleum (BP) offshore oil rig on April 20, 2010, countless gallons of oil have penetrated the waters of the Gulf of Mexico. The damage that the explosion has caused environmentally and economically is not yet known because the horrific story is not yet finished; oil continues to gush into the ocean in the area.
Unlike the Exxon Valdez spill in 1989, where the spill was limited to the capacity of the ship, the BP rig is tapped into an underwater well, with an undetermined amount of oil to be leaked. In his 2010 Huffingtonpost.com article "Government Raises Estimate of Oil Flow to 20,000 to 40, 000 Barrels A Day, More or Less" (accessed June 11, 2010), Dan Froomkin reports that American government mathematicians have estimated that between 840,000 to 1.7 million gallons of oil are leaking into the Gulf each day.
Environmental Impact
Due to the difference in location, the depth of the oil spill, and the ecological systems in the area, it's difficult for scientists to determine exactly how the environment will be affected. The spill in the Gulf of Mexico occurred at a depth of 5,000 feet, thus affecting the water from seafloor to surface. Sadly the affects of the spill could last for decades.
According to Larry Dignan in his 2010 Smart Science article "BP Oil Spill Puts Nalco Holdings, Oil Dispersants In Spotlight" (accessed June 11, 2010), dispersants are being used to help break up the oil on the surface of the water; however the oil will gather together to make globules that will sink to the sea floor, potentially causing problems that could last for decades.
The globules that are formed eventually make their way to the ocean floor where they might remain for decades, thus affecting bottom feeding animals indefinitely. In Mark Guarino and Peter N. Spotts' 2010 Christian Science Monitor article "Gulf Spill's Environmental Impact: How Long to Recover?" (accessed June 11, 2010) the globules cause algae to die, which rids the area of the oxygen. The fish flee the area, but bottom feeders, like crabs and other shellfish, are too slow to get away, and end up perishing as a result.
Economic Impact
The economic impact includes environmental repercussions as well. Naturally, there are those who are directly and immediately affected by the oil spill: the people who live and work in the area. But there is also an economical ripple effect due to the explosion that occurred in April.
In an interview with CBS News Correspondent Michelle Miller on May 18, 2010 (accessed June 11, 2010), Matthew Lepetich, who owns the rights to oyster beds not far from where the oil is spilling out, relates that he still has a few months before he can harvest his oysters. If the leak is not stopped soon and his oyster beds are contaminated, he runs the risk of losing $4,500 a day.
Unfortunately, the economic devastation doesn't stop there because Mr. Lepetich sells his oysters to seven different states anywhere from Louisiana to Maryland. One oyster house in Mississippi has been forced to lay off 60 of its workers due to oyster beds in the Gulf being off limits for harvesting. Shrimpers and fishermen have been forced to increase prices of their product anywhere from $1 to $10 per pound because of the BP explosion.
Logically, because the selling price to restaurants for seafood is rising, the restaurants are being forced to raise the prices for their customers, in some cases 10%. Similarly, hotels and resorts are losing money - between $100,00 and $200,000 during the Memorial Day weekend - due to the mere mention of oil. Over the Memorial Day weekend, the Gulf Coast saw a 50% decrease in sales, and hotel occupancy as low as 15-19%.
Hopefully the British Petroleum Company will be able to get the leak completely under control so that the Gulf can get back to normal. There's really no telling how long that's going to take or how much of a toll the spill will ultimately take financially and ecologically, but with some continued cooperation between companies and countries, maybe things can be turned around.