In addition to causing 11 fatalities, the explosion aboard the Deepwater Horizon oil rig in the Gulf of Mexico on April 20, 2010 has caused massive devastation on an environmental and financial level. While oil continues to spill out of the rig as of July 2010 (at a rate of as much as 60,000 barrels each day), more and more oceanic life is ruined, and many local businesses in the Gulf Coast states are suffering tremendous financial losses.
Industries Devastated by the Gulf Oil Spill
Along with the tourism industry, other industries that are facing growing and devastating financial losses include:
- Charter boat industry
- Commercial fishing industry
- Oyster and seafood processing companies
- Suppliers of goods and services to the fishing industry
- Local restaurants, hotels, bars and recreational tour operators that are indirectly affected as tourism decreases
In fact, the BBVA Compass, a financial firm, estimates that the total economic cost of the Gulf oil spill might reach $11.5 billion (initial estimates by this firm were in the neighborhood of $4.3 billion). Tragically, these estimates could increase in the coming months, as the oil spill has yet to be contained.
Financial Recovery from the BP Oil Spill
Individuals and businesses that have sustained any losses as a result of the Gulf oil spill will likely be entitled to seek compensation from BP. If you or a loved one has been financially affected by the BP oil spill contact Gacovino, Lake & Associates for legal counsel.
Our Gulf Oil Spill Lawyers Can Help You
For more than a decade, our skilled lawyers have been aggressively representing the rights of those who have been victimized by any type of negligence, recklessness and carelessness. In the case of the Gulf oil spill, BP is alleged guilty of being negligent, reckless and careless. Victims of financial loss may be entitled to financial compensation. The distinguished attorneys at Gacovino, Lake & Associates are here to help victims, like you, recover the full amount of compensation payable by law.
If you would like to speak to one of our Gulf oil spill attorneys, please call us at 1-877-785-5800.
