Gulf Oil Spill Economic Effects: Nearly Half of Federal Gulf Waters Closed to Fishing, Louisiana Tourist Revenues Down Twenty-Five Percent

In its ongoing investigation and hearings into the causes and effects of the gulf oil spill, the house committee on energy and commerce has begun to compile and release broad statistics.

Among them:

Since May 2, 2010, the National Oceanic and Atmospheric Administration (NOAA) has closed portions of the Gulf of Mexico to fishing based on the trajectory of the spill. As of June 2, 2010, 36.6% of the Gulf Coast, an area covering 88,522 square miles, had been closed.

The closure of Coastal areas has had a significant economic impact on the Gulf Coast region. In Louisiana, one out of every 70 jobs relates to the seafood industry, representing over $2.4 billion dollars in revenues.2 Many commercial fishermen, seafood processors, and restaurants can no longer access seafood as a result of the closures.

The Deepwater Horizon oil spill has also impacted Gulf Coast tourism. In Louisiana, 23 percent of tourists who booked vacations to the state have canceled or delayed them because of the oil spill. BP has given Florida, Alabama, Louisiana and Mississippi $15 million to attract tourists and address this reduction in tourism revenues.

Source: House subcommitee field hearing briefing memo, House Committee on Energy and Commerce, 6/2010.