Tuesday, July 20, 2010

BP (NYSE:BP) Oil Leak Damage Causing Loss of 17,000 Jobs

According to Moody's analytics report, BP's (NYSE:BP) oil leak damage is not only effecting oceans and wildlife, it's also causing the loss of 17,000 jobs in the Gulf Coast. Also being lost is almost $1.2 billion in the regions economic growth by the end of the year. Even if the best case scenario plays out with the Macondo well being permanently fixed next month.

The other scenario is the Presidents six month moratorium gets pushed through, extended, and the leaking well continues spewing its toxic crude oil through the end of the year. Then the financial losses will be almost $7.5 billion and well over 100,000 jobs lost.

The hardest hit areas will be Florida, which relies on high tourism and Louisiana whose whole livelihood lies in fishing, oil extraction, and aquaculture. The other states, Texas, Mississippi, and Alabama will also feel the impact but on a much smaller scale.


  1. Why should the well continues spewing oil when the cap is in place and professionals expect the well to be permanently plugged within 2-3 weeks ?

  2. It's not nuclear waste. The oil will break down quickly, and much of it already has.

  3. Right... After taking millions of years to be created in the earth the oil will "quickly breakdown", change its chemical composition to something else and dissapear. I doubt it.

  4. "It's not nuclear waste. The oil will break down quickly, and much of it already has."

    The oil will sink to the bottom of the ocean. Bacteria produces enzymes to break down the oil which is a SLOW process. The bacteria for breaking down the oil are usually not observed for three months after the spill, so they are just now getting started. Unfortunately, at these depths the water is too cold for the bacteria to multiply. The Exxon Valdez spill is still washing up on shores in california. We will see the oil completely decomposed in our lifetime.

  5. "It's not nuclear waste."

    "The oil will break down quickly,"

    "and much of it already has."
    NO IT HASN"T. NOAA and satelitte imagery shows the massive deadly oil plume "daeth cloud" still lurking in the ocean..

    As a matter of fact, the oil slick has INCREASED in size!

    "much of it already has"
    Who are you trying to fool, your grandmother?

  6. BP is going to make good on legitimate claims.

    Probably 50% are bogus

  7. I've seen oil on the beach for 60 years.....common from earth quakes and movements of the plates