BP Victims Still Feel Economic Impact

BLOOMBERG By Allen Johnson Jr., Laurel Calkins and Margaret Cronin Fisk - Feb 23, 2012

Louisiana oysterman Terrance M. Shelley was struggling to keep up with demand by New Orleans restaurants before BP Plc (BP/)’s Macondo well blew out in April 2010, crippling the processing plant he opened six months earlier.
“Demand was exploding” until then, said Shelley, 60, whose family has 18,000 acres of oyster reefs.
The state closed the reefs because of contamination from the Gulf of Mexico spill. Shelley’s business dried up as customers and wholesalers shunned Gulf seafood.
Shelley is among thousands of coastal residents, business people and property owners who will be affected by a trial starting Feb. 27 in New Orleans federal court to determine who must compensate spill victims. The spill spewed more than 4.1 million barrels of crude over 87 days into the Gulf, whose $3 billion fishing industry provides one-third of all seafood consumed in the U.S., the plaintiffs said in court papers.
At the peak of the disaster, in June 2010, 40 percent of Gulf waters were closed to commercial and recreational fishing, according to the National Oceanic and Atmospheric Administration.
Gulf Coast seafood restaurants took the brunt of the disruption, which cut supply chains and chased away customers afraid of contamination.
Issues faced by Gulf residents:
-Oyster Market 'Destroyed'
-Shoreline clean up
-Peeled Shrimp
-Oyster Beds
-Tourism Industry
-Battling BP
-Buried Oil Deposits

Full article here


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