Aug 5, 2013

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Environmental Effects of BP Oil Spill Equals Economic Damages

A majority of the livelihood in the coastal areas in the Gulf of Mexico is primarily marine-based. So much so that when the Deepwater Horizon oil rig exploded and spewed millions of gallons of oil into the water, economic activity came to a screeching halt. Amongst the most affected were oyster farmers, shrimpers, crab fishermen, and those engaged in recreational and sport fishing.

One of the biggest problems with the accident aside from the oil itself, was that when the dispersant was used by BP to control the spill, it was spawning season for blue fin tuna, a major component in the area’s seafood industry. Experts state that because tuna takes a minimum of five years to mature, there may not be any tuna on the Gulf in five years. Put this together with poor showing in the shrimping and crabbing sectors, and it could well mean that the fishing industry may no longer be a sustainable industry.

All formerly closed fishing areas have been opened even though tar balls are still being found along the coast. Recent reports on the levels of toxic chemicals found in seafood from the coast show that they are relatively safe to eat. There are toxins present, but they are at allowable levels with reasonable consumption. This is hardly something that would encourage people to eat them, however.

This frustrating state of affairs is something that locals in the Gulf of Mexico coastal towns have been living with for more than three years.  Despite massive efforts at clean-up and promotion of businesses in the area, the economic damages have been so extensive that it is difficult to contain.

Individuals should certainly exercise their right to sue BP and their partners in the Deepwater Horizon oil rig, but it will not be an easy matter without the help of experienced legal assistance. Big businesses are notorious for minimizing their exposure, and will not make it easy for anyone to recover for economic damages.

Make sure that you find a law firm which has handled similar cases before if you plan to make an economic damages claim for the BP oil spill. The lawyer who will be assigned to you should have the necessary knowledge for negotiating claims with big businesses like BP.

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