The Economic Impact of Oil Spills
Oil spills not only affect environmentally but also economically. The economic impacts are directly or indirectly related to the environmental impacts of oil spills. But, the economic impacts of oil spills are not much talked about as the environmental impacts are.
The most direct economic impact of oil spills is the loss of oil. The losses incurred depend on the size of the spill; the bigger the spill, the higher the economic impact. Oil spill cleanup costs too increase with the size of the spill.
Most of the people along coastal areas depend on tourism for income. The restrictions imposed on recreational activities, such as diving, bathing, and boating in the polluted area affect tourism. As a result, they suffer huge economic losses. Until and unless oil spill cleanup is done, these continue to suffer.
Fishing industry is another prominent sector that bears the brunt of oil spills. Contamination or death of commercial marine animals and plants result in economic loss for the fishermen. Oil spill cleanup actions usually take a very long time. The fishing and shellfish area are closed during these periods. This interrupts the fishing activities, resulting in further loss to the fishermen. Fishing boats and equipment get damaged when they come in contact with the spilled oil.
Industries like hydroelectric power plants, desalination plants, and nuclear central stations depend on seawater for their operations. The whole operation of the large scale industries is affected if the spilled oil is mixed in the water being used by them.
With such obvious economic impacts, it is our responsibility to protect our environment from such disasters. Preventing oil spills and using environmentally-friendly oil spill cleaners, such as Oil Gone Easy S-200 rather than other toxic products will help a great deal in minimizing the impact of an oil spill.
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Gulf of Mexico as more fishing areas were closed in response to the worst oil spill in U.S. history.