Oil Spill Has a Price Tag and It’s High
The cost to the Gulf states' tourism industry alone could be $22.7 billion, according to a study commissioned by the U.S. Travel Association. The outlook for the region's fishing and drilling industries is also pretty bleak.
The cost to the Gulf states’ tourism industry alone could be $22.7 billion, according to a study commissioned by the U.S. Travel Association. The outlook for the region’s fishing and drilling industries is also pretty bleak.
BP, meanwhile, has already spent $4 billion trying to clean up the mess.
Your support matters…CNN:
The effects of the oil spill on the region’s travel industry could last up to three years and cost up to $22.7 billion, according to the study released Thursday.
In preparing the research, Oxford Economics looked at current spending, government models predicting oil flow and the effect of 25 past crises on tourism to develop a model to gauge the Gulf disaster’s impact, according to Adam Sacks, managing director for Oxford Economics.
Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
With his reelection at stake, Barack Obama made a series of decisions to control the disaster. It's clear now just how calamitous they were.
A new probe finds Louisiana has failed to pursue millions in remediation for spills—money environmental groups say they desperately need.
A batch of corporate boards filled with sociopaths are knowingly killing us all. But one thing could end their murderous streak.
In a congressional district where voters rely on fossil-fuel jobs, it’s not easy, but it's absolutely essential.
A new investigation finds a range of industries were able to successfully mask their sponsorship of political ads on the social network.
It’s been going on since 2004, with no end in sight.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.