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columnist: Libby Gray

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Topic: Economics

Gulf Oil Spillover


Ramifications from the spill beyond the environment
by Libby Gray
(libertarian)
Thursday, May 20, 2010

The oil spill in the Gulf of Mexico has so many ramifications that it is hard to know where to start to discuss them.

The most obvious effect of the spill at present is the damage to the environment. We have all seen the pictures of the seabirds and other marine life coated in oil. We also know that the marshlands around the gulf are now being covered in oil and that habitat and marine life are being affected. Huge areas of the Gulf are off limits to fishing.

The chemical dispersants being used to break up the spill are toxic in and of themselves and since their formulas are proprietary we don't know what we're dealing with there. The toxicity of the dispersants could be more of a problem to marine life and humans than the oil.

What is not being talked about as much as the spill itself is the economic damage to the Gulf Coast and those who depend on the sea for their livelihood. Restaurant owners and their employees, oystermen, fishermen and shrimpers are all affected. Charter boats and tourism have been affected. Real estate values in affected areas will be further diminished.

Due to the size of the spill, and the depth at which it is occurring, seafood from the Gulf will have to be inspected for years. And with the potential of the oil being carried in a loop that could circle around Florida and into the Atlantic, more and more industries and sea life will be affected.

Over twenty years after the Exxon Valdez spill the oil is still in the water and affecting the marine life, sea birds, otters and those who make their living from the sea. The waters are so cold that organisms, that over time would help disperse the oil, can't survive. Perhaps with the warmer waters in the Gulf, this won't be the case. But until we know the true size of the spill and where it ends up going, we can't make assumptions.

As much as I hate to see the animals affected by the spill, I worry about all those whose livelihoods are at risk not only in the near future but also for the long haul.

While I have been a proponent for a switch from fossil fuels to alternate energy sources since the 1970's, I feel now that the switchover needs to begin in earnest. To those who feel that drilling for more domestic oil diminishes our dependence on oil from other countries, I would point out that while oil and gas may be produced in this country, they don't necessarily end up in this country. The oil companies sell their wares to world markets. The gas and oil produced by the Alaska Pipeline is actually sold to Asian Markets.

This is a complex and troubling subject and there are no easy answers. We need to consider all options carefully and fully and decide if the cost of oil is worth the obvious risks.

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©2010 Libby Gray, all rights reserved. You must have written permission from the author in order to republish this work.
Published: Thursday, May 20, 2010
Last modified: Friday, August 13, 2010

The views expressed in this article are those of Libby Gray only and do not represent the views of Nolan Chart, LLC or its affiliates. Libby Gray is solely responsible for the contents of this article and is not an employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.

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Posted By: gede
Date: August 28, 2010   04:14:45 PM

nice article.

for one reason we are out there google "1995 Deepwater Royalty Relief Act".

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