On April 20, 2010 the BP Deepwater Horizon exploded sending around 5 to 25 thousand barrels a day gushing into the Gulf of Mexico. The explosion, which occurred 51 miles off the coast of Venice, Louisiana, killed 11 workers and injured 17 more. The rig was on lease by British Petroleum from Transocean Ltd.
Louisiana houses a $2.4 billion dollar a year fishing business.
Oil Spill Entitlements for the Consumer
The financial impact of the explosion is expected to make a tremendous impact to the fishing and tourism industry along the Gulf Coast. The state of Louisiana houses a $2.4 billion dollar a year fishing business and as the massive oil slick continues to head towards shore, it will affect industries along the Gulf Coast. Once the spill hits the shore, beaches will have to be closed for cleanup, which will cause lost income to the hotel, restaurant, fishing, and tour guide industries. In Alabama, tourism along the beaches supports 41,000 workers and over $2 billion in spending by tourists. The oil spill will cause economic hardships for the beachfront, land and property owners too! The slick will cause significant decreases in property and land value, which will lead to sharp declines in the real estate industry. People and businesses that are impacted by this oil spill are entitled to collect damages for lost wages and profits under the Oil Pollution Act of 1990.
The Oil Pollution Act of 1990 was passed after the 1989 Exxon Valdez oil spill, which is the largest oil disaster in U.S. history. The law states that companies must have a plan to prevent spills that may occur and have a detailed cleanup plan in case of an oil spill.
BP Oil Spill – Contact Johnson Law Group
If you or a loved one have been affected by the BP Oil Spill, then speak to an oil and gas/maritime legal expert at The Johnson Law Group today. We will fight for you and your federally protected rights. Contact us and we will give you a free case evaluation!
