Oil spill creates negtive effects that will be felt for a long time

Posted on August 5th, 2010 No Comments

A economic research firm has found that an estimated 17,000 jobs will be lost this year because of the oil spill. Also, an estimated $1.2 billion in economic input will be lost which is opening the question to whether the $20 billion fund set up by BP will be enough.

BP has already announced that it has paid $277 million to people and businesses in the Gulf area that have made claims and they have set aside a $100 million fund for rig workers. The federal and state bans on fishing in the Gulf could effect over 1,000 businesses, which will cause all of their incomes to fall.

The tourism industry will also see a big hit. Over the next three years, the firm found that the tourism industry will be losing anywhere $7.6 billion to $22.7 billion because travelers have avoided the area.

If you and your family has seen a decline in your financial well-being because of the oil spill, contact the Tourism loss due to oil spill lawyers of Williams Hart by calling 800-821-1544.

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