Here's What You Need To Know About The $2.2 Trillion Gulf Economy Being Threatened By The Leak

uae oil

Photo: arabianoilandgas.com

The unstoppable Deepwater Horizon oil leak is screwing up key industries in one of America’s fastest growth regions.Total losses in fishing, shipping, and tourism are impossible to calculate. If the Deepwater Horizon well keeps leaking for months at 25,000 barrels-a-day, these industries could be ruined for years.

The Gulf States have a GDP of $2.2 trillion

The coastal population grew 103% since 1970... and it's still growing

Six of America's top 10 shipping ports are on the Gulf Coast

27% of US crude production comes from the Gulf

There are over 4,000 oil and gas platforms in the Gulf, with over 100,000 workers

The Gulf's commercial seafood industry is $21 billion

Source: WSJ

83 per cent of US shrimp landings are in the Gulf

56 per cent of US oyster landings are in the Gulf

14 per cent of US commercial fishery landings are in the Gulf (significant though overshadowed by Alaska)

There were 25 million recreational fishing trips in the Gulf in 2006

The Gulf accounts for over 40% of all U.S. marine recreational fishing catch

Gulf tourism provides 620,000 jobs and $9 billion in wages

Cost of disaster?

Companies involved in drilling (including BP, Transocean, Haliburton, and Cameron) face liabilities of $12.5 billion, according to a report by Sanford Bernstein & Co.

That figure does not include lost revenue from disrupted fishing and shipping and decreased tourism. A ban on off-shore drilling would be an even bigger hit.

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