Sunday, September 5, 2010
Gulf of Mexico Oil Spill (2010)
The BP Oil spill has been in the papers for months, and often the time has been on the front page of all major Newspapers. BP's oil spill has effected the ecosystem and marine biologists are predicting that the leak is going to effect the ecosystems for months, even years to come!
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What are the possible effects going to be in regards to the seafood market?
ReplyDeleteWe have already seen a huge impact on the seafood industry. For an example the shrimp industry is about to collapse, in addition the oysters may be next once the oil sinks to the ocean floor.
ReplyDeleteHear is an interesting article pertaining to this topic if your interested:
http://www.time.com/time/nation/article/0,8599,1986405,00.html
It is interesting that instead of oil prices, you brought up the market for seafood. With the increase in oil spills around the world, marine life is getting affected. This in turn is affecting all those whose life depends on deep sea fishing. Many of these people are losing jobs as well since the number of catches have declined. Does this mean higher rates of unemployment?
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ReplyDeleteI would have thought it would be oil prices at first, ha. I do not think an oil spill as big as the Gulf of Mexico Oil Spill would cause the oil price to increase. A refinery that explodes would definitely make the oil price go up due to supply that would be greatly reduced. I would be more interested what percentage of the GDP relies on the fishing industries and jobs as well coming from Gulf of Mexico? That would definitely increase the unemployment rate for years to come from that area but at the same time, it would increase jobs for the environmental clean up...
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