What Impact Will the Oil Spill in Louisiana Have on the Seafood Industry?

It has been about 3 weeks since the oil spill in Venice, Louisiana took place. There has not been an oil spill of this magnitude since the Exxon Valdez that occurred back in 1989. Because of this latest environmental disaster, there have been many questions and concerns about oil prices. For some strange reason the seafood, industry has been overlooked. I believe the current oil spill will have a major impact on the seafood industry.

The Gulf of Mexico is a huge source of lots of our seafood. The latest oil spill in Louisiana has not only placed many fishermen's livelihood in jeopardy, but it has also threatened the seafood industry as well. According to the May 15, 2010, issue of Bloomberg Business week the oil spill will have a direct effect on seafood production in Mississippi, Alabama, Florida, and Texas. Seafood is a major source of revenue for the state of Louisiana. The oil spill has prevented many fisherman from going out to catch fish, shrimp, crawfish, and oysters. The accident took place two months before the shrimp season was scheduled to start. The seafood supply will become limited, which will increase demand. If our major sources of seafood become contaminated because of the oil spill, we will be forced to seek foreign sources. If we get seafood exported from countries like Australia and India the expensive tariffs will cause the price of seafood to increase. It could also lead to lots of seafood being sold on the black market. Some seafood outlets may have already started increasing prices in fear of limited supply.

The seafood industry will face a serious economic problem because of the oil spill in Venice, Louisiana. Many fisherman are viewing the this oil spill as an immediate threat to their way of living. For some of the fisherman this is the only type of work that they have ever done. The seafood industry is the lifeblood of the Gulf coast. If we are forced to get seafood from foreign suppliers there is no doubt that, we may see an increase in seafood prices.