Economic Consequences of Marine Oil Spills

http://www.youtube.com/watch?v=NQqPnIYl7QI

Economic disasters and disturbances usually accompany marine oil spills. When an oil spill occurs, businesses that rely on tourists may temporarily suffer. Hotels and restaurants, in particular, suffer from a nearby oil spill due to the tainted local waters and the possibility of poisoned seafood due to the oil. "Recreational activities such as bathing, boating, angling and diving" also experience the impact that results from nearby oil spills since they all rely on clean water (Economic Impacts). Not only tourist-centered businesses endure the effects of an oil spill, "industries that rely on seawater for their normal operation can also be adversely affected", such as power stations and desalination plants (Economic Impacts). These businesses are at risk of being harmed because there is a large possibility that if there is a nearby oil spill, then "their water intakes are located close to the sea surface, thereby increasing the possibility of drawing in floating oil" (Economic Impacts). Other coastal industries suffer from oil spills because their normal operations are often disrupted, industries "such as shipyard, ports and harbours" (Economic Impacts). 


Perhaps the industry that is most negatively impacted by a marine oil spill is the fishing industry: "An oil spill can directly damage the boats and gear used for catching or cultivating marine species", along with the damaging of the cultivating species themselves (Economic Impacts). Floating fishing equipment and "fixed traps extending above the sea surface" are in danger of being contaminated because they may come into contact with the spilled oil (Economic Impact). Equipment that rests on the bottom of the ocean is usually safe from the surfaced oil; however, it may become infected by the spilled oil when the equipment is hauled from the water. There is also the possibility of sunken oil contaminating the equipment. The fish markets are impacted due to the possibility of infected/poisoned fish. Under the circumstances of a polluted area due to an oil spill, industries that rely on the seawater and its inhabitants suffer greatly and the markets for seafood plunge rapidly. (Economic Impacts) 

Source: 

Economic Impacts: http://www.itopf.com/marine-spills/effects/economic-impacts/