Last month's tragic Deepwater Horizon oil platform explosion and oil spill threatens not just nature along the Gulf of Mexico coast, but also businesses. Already, fishing in the area has been halted by the U.S. government. Meanwhile, families of 11 oil platform workers killed in the catastrophe grieve.

For Louisiana fishermen who seek crab, shrimp and oysters, the spill couldn't have come at a worse time, since they were gearing up to harvest in mid-May. Louisiana's $2.4 billion fishing industry already was staggered by Hurricane Katrina, rising diesel fuel prices and lowered prices for shrimp and other food harvested in regional waters and wetlands. The Deepwater oil spell could be its death knell.

Other businesses, such as hotels and resorts, also are affected along the oil-slimed Gulf Coast. Also, a severe economic blow to one industry inevitably hits related ones, as consumers have less money to spend.

In short, economic disasters -- not just ecological ones -- should be common all along the Gulf Coast, from Texas and Louisiana to Mississippi, Alabama and Florida. Indeed, all areas hit hard by the oil spill may be reeling financially for years.

Meanwhile, the energy companies responsible for the offshore drilling are bulging with billions of dollars.

BP PLC, the European oil giant which leased the doomed platform from Transocean Ltd. of Houston, had first-quarter profits this year of $6.1 billion, more than double its profits of a year ago. Those first-quarter profits followed a $4.3 billion BP PLC profit in the fourth quarter of 2009.

As for Transocean, the planet's largest offshore drilling company has not yet reported first-quarter earnings for 2010. But we do know this: Transocean had $11.6 billion in revenues and $3.2 billion in profits in 2009.

BP PLC already has announced it will pay for the oil spill's cleanup. But what about the oil spill's devastating economic impact on fishing and other businesses along the Gulf Coast?

Their recovery may require a different type of action -- a legal "cleanup," if you will. That's why oil spill lawyers with Jim S. Adler & Associates stand ready to assist those with oil spill damages to their business or livelihood, via an oil lawsuit or oil spill legal action.

Innocent people and businesses should not be crippled and devastated by the negligence of oil industry kingpins worth many billions of dollars. Rather, oil spill lawsuits must be pressed to secure fair and fitting economic compensation for those whose business or livelihood is damaged if not destroyed by this historic oil spill. Such oil lawsuits can seek financial recovery, as well as some degree of justice.

 

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