The oil leak in the Gulf of Mexico is already going down as the worst ecological disaster in the history of Florida tourism. Florida's tourism industry brings in $60 billion annually to our state. Thus far, estimates are that the tourism industry has already incurred losses of more than $2.2 billion. In addition, tens of thousands of jobs in fisheries and tourism industry are on the line.
The Hotel and Restaurant business in South Florida and Miami Beach are already experiencing a huge downturn in their business due to cancellations, as tourists are more and more reluctant to spend their summer vacations here.
Get a feel for what's happening at this very second at South Beach with a live stream from Miami Live (in high-definition).
BP and the other responsible companies face billions of dollars in liability for claims being made by the thousands of businesses, property owners, and individuals harmed by the effects of the oil leak. However, in light of the long litigation that ensued after the Exxon Valdez oil spill, it is imperative that Congress act to avoid the long delays and miscarriage of justice that was experienced in Alaska. President Obama seems to have received the message as he too is calling for reforms to claims process, including forcing BP to escrow billions of dollars in order to reimburse those affected.
By on June 7, 2010 10:37 AM
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