Gulf of Mexico oil spill moratorium costly for the U.S.

Posted on January 12th, 2012 No Comments

A report conducted by the American Petroleum Institute shows that the construction of a moratorium related to drilling in the Gulf of Mexico after the disastrous oil spill will cost America roughly $24 billion.

Due to the establishment of the moratorium in the area, and the prolonged process for allowing drilling, capital has decreased by $18.3 billion in the last two years. If the drilling moratorium was not in existence, there would have been a significant increase in the amount of crude oil investments.

The moratorium has caused 11 separate drilling rigs to pull out of the Gulf of Mexico and occupy other countries. This evacuation has fueled around $21 billion in investments into the new countries. Approximately 130 drilling projects have been delayed because of the moratorium, greatly affecting the economy in the area.

If you were affected by the Gulf of Mexico oil spill and your claim for compensation was denied, please contact the Oil spill denied claims lawyers of Williams Kherkher by calling 800-821-1544 today.

 

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