With the BP oil spill expanding by the day, we are losing money in many areas in the gulf coast. BP says they are doing all they can to cap the spill and currently we are approximately losing 5,000 gallons per day. Based on current oil prices that is roughly $320000 lost per day and worst case scenario that 5000 could turn to 60000.
For companies with such a high profit margin one would think that they would be prepared for a spill of such high caliber. This oil spill is the worst thing the gulf coast has seen since Katrina. The oil company and the environment are not the only ones taking a loss. For those in the fishing industry who just managed to bounce back and rebuild since Katrina, this is a economic blow. If they don’t stop the leak soon all of the wildlife in the gulf will be wiped out or contaminated by the toxic mineral. When the wind blows on the spill the sludge expands more and more inwards towards shore.
In order to aid the financial losses for the fisherman, BP is offering high hourly rates to help the cause and try to stop the flow of the oil. The compromise is that they would be taking they’re high priced vessels into the sludge with the possibility of damaging the rigs. It is unsafe and the fishermen are untrained in this area. BP has come up with a plan to funnel all of the oil into ships but this plan is not efficient and will take time. Time is something the wildlife in the area do not have. If this lasts for another week it will wipe out the seafood industry much of the flora in the area.
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