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Gulf Coast Oil Spill Could Affect Nation’s Economy

May 19, 2010 – Those who make their living along the Gulf Coast were the first to be impacted by last month’s deadly Deepwater Horizon oil rig disaster, but the ripple effect now extends throughout the country.

Matthew Lepetich owns the rights to oyster beds in the direct path of the massive slick, and if the oil reaches them before he can harvest, Lepetich says he will lose $4,500 a day. “It’s a domino effect and it starts right here,” he said.

While Lepetich’s customers await his harvest, one oyster house in Mississippi has already laid off 60 workers because many Louisiana oyster beds are off limits.

Last week, oyster prices went up $10 a gallon, Gulf Coast fish rose a dollar a pound, and shellfish went up by $6, from $24 per hundred to $30.

And while seafood prices are rising, tourism is falling along the Gulf Coast. The mere threat of oil is causing thousands of hotel cancellations. After Katrina in ’05 and two years of recession, many business owners thought 2010 would be a breakout year. So far, though, it’s looking more like a bust.

Do I have an Oil Spill Lawsuit?

The Environmental Litigation Group at our law firm is an experienced team of trial lawyers that focus exclusively on the representation of plaintiffs in environmental catastrophe lawsuits. We are handling individual litigation throughout the Gulf Coast and currently accepting new oil spill cases in all affected states.

If you or somebody you know has suffered an economic loss related to your Gulf Coast business or coastal property, you should contact our law firm immediately. You may be entitled to compensation by filing an oil spill lawsuit and we can help.  We are currently accepting cases and/or claims in Texas, Louisiana, Mississippi, Alabama and Florida.

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