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Oil Spill Threatens to Choke Gulf Region's Economic Recovery
Posted on 6/8/10 at 9:56 pm
Posted on 6/8/10 at 9:56 pm
LINK
The Democratic Policy Committee put out a snapshot last week pegging the Louisiana commercial fishing economy at $2.4 billion and the Florida tourism industry at $60 billion. The document said economic damage "will be significant," citing reports of 70 percent declines in hotel occupancy along the Florida panhandle over Memorial Day and other signals that tourists are being spooked.
Karp explained that the impact will be huge on the Florida panhandle if the situation worsens because of its dependence on tourism.
"The region will suffer," he said. "Even if you manage to clean what your eyes can see in front of you, if people don't feel safe it's going to be very difficult to bring them back," he said.
The economies were already on shaky ground. Florida's jobless rate was 12 percent in April. Mississippi's was 11.5 percent.
The Democratic Policy Committee put out a snapshot last week pegging the Louisiana commercial fishing economy at $2.4 billion and the Florida tourism industry at $60 billion. The document said economic damage "will be significant," citing reports of 70 percent declines in hotel occupancy along the Florida panhandle over Memorial Day and other signals that tourists are being spooked.
Karp explained that the impact will be huge on the Florida panhandle if the situation worsens because of its dependence on tourism.
"The region will suffer," he said. "Even if you manage to clean what your eyes can see in front of you, if people don't feel safe it's going to be very difficult to bring them back," he said.
The economies were already on shaky ground. Florida's jobless rate was 12 percent in April. Mississippi's was 11.5 percent.
4
Posted on 6/8/10 at 10:05 pm to Mudminnow
That translates to more tourists up here in East Tennessee which is good for the economy here. You have to try and find the silver lining in this disaster. It's there if you just look.
Posted on 6/9/10 at 12:30 am to Mudminnow
Mud the oil and gas is much bigger, provides a bigger econmic impact, not to mention the billions It generates in federal revunue.
I know you are anti oil and gas, but shutting down a portion of the activity will impact around 39,500 jobs. this will make 1986 look like a walk to church. Louisiana will be fricked. And when oil is down, people fish, and when it is up, they are offshore.
We have been isolated from the recession, but pretty soon we will have a feel of detroit sooner rather than later.
I know you are anti oil and gas, but shutting down a portion of the activity will impact around 39,500 jobs. this will make 1986 look like a walk to church. Louisiana will be fricked. And when oil is down, people fish, and when it is up, they are offshore.
We have been isolated from the recession, but pretty soon we will have a feel of detroit sooner rather than later.
This post was edited on 6/9/10 at 12:33 am
Posted on 6/9/10 at 1:11 am to Mudminnow
quote:
Oil Spill Threatens to Choke Gulf Region's Economic Recovery
Oil Spill Encourages Massive Alternative Energy Businesses Development in Gulf Region
FIFY
This post was edited on 6/9/10 at 1:13 am
Posted on 6/9/10 at 10:19 am to Mudminnow
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