The huge oil rig explosion off the coast of Louisiana is far much more severe than the Exxon Valdez spill in Alaska. This spill will most likely cause damage to residential, commercial and recreational facilities. The difference between this spill and the Exxon Valdez is that more states will suffer far more economic interests other than Alaska. Texas, Louisiana, Mississippi, Alabama and Florida will all be affected greatly.
BP Gulf oil spill claims
Many industries will be affected but the fishing industry will be hit the hardest. During the Exxon Valdez spill thousands of fishermen were put out of work, which put their families in financial hardship. It is important to preserve the rights of those affected by this disaster. History has been known to repeat itself and if we learned anything from hurricane Katrina we now know that relying on government agencies may not be the best way to approach the situation.
Here are some facts about the Gulf oil spill:
The clean up process so far costs about $6 million dollars a day.
The coast guard estimates 210,000 gallons of are being dumped into the Gulf daily.
The total cost of clean up and paying out damages in lawsuits may cost the company up to $3 billion dollars at the end.
Exxon Valdez spill comparison:
10 million gallons of oil were spilled.
1,776 square miles were affected.
Exxon paid more than $3.8 million in cleanup costs and damages.
The oil industry makes billions of dollars in profits from the drilling operations but when accidents happen its team of lawyers try to tone down the damages caused by their carelessness and to pay out as little as possible. Questions have been asked to both BP and government officials leaving people wondering if they will get the help and compensation they need.
Experts are saying that this disaster could turn out to be the largest class action lawsuit in the history of the US.