Affects of BP oill spill on tourism

On day 72 of the disaster Thursday, the oil spill within the Gulf of Mexico 2010 became the worst oil spill ever within the region. The rate of oil washing up on beaches increased this week thanks to Hurricane Alex, and cleanup operations were suspended. The booming tourism expected on the Gulf coast as the Fourth of July holiday weekend approaches is virtually non-existent. What's more, the government overseer of BP's oil spill claim program said oil spill tourism losses may not qualify. Meanwhile, the oil spill cap remains attached in the high winds and heavy seas, but it only captures about 25 percent of the crude that continues to spew from the undersea gusher into the gulf.
Article source: BP oil claims chief says oil spill tourism losses may be denied by Personal Money Store
Feinberg – BP claims for oil spill tourism in doubt
As 4th of July weekend approached and tourism tanked, the head of the $ 20 billion BP oil claims program added more bad news to the oil spill in the Gulf of Mexico 2010. USA Today reports that Kenneth Feinberg, appointed by President Obama to handle claims, said companies hurt because tourists have stayed from the Gulf might not be eligible for reimbursement. Tourism officials and individuals who make a living from tourism say the BP oil spill is driving away visitors and costing businesses billions of dollars. In a statement to the House Small business Committee, Feinberg said that claims made by companies that say tourists are staying away because they think beaches are ruined "may be non-compensatory".
More money, faster processing are Feinberg's goal
Up to 60,000 barrels a day are pouring to the oil spill within the Gulf of Mexico, a team of scientists has estimated. Hurricane Alex has taken as much as 6,000 skimming ships out of commission. As the environmental and economic disaster spreads with no end in sight, CNN reports that Feinberg said his priorities could be to cut bigger checks and send them out faster to the oil spill’s economic victims. Even though more than 80,000 claims have been made, the oil company has only made good on 41,000 worth about $ 130 million. Rather than the month-to-month emergency checks going out now, Feinberg plans to have his new entity, the Gulf Spill Independent Claims Fund, send out six-month lump sum payments “to give small companies more certainty”.
Worst oil disaster warrants biggest fine
As the oil that has spilled for two and a half months turns the Gulf of Mexico's white beaches brown and kills both wildlife and also the fishing industry, The Associated Press reports that BP's blowout has passed the 140-million gallon Ixtoc 1 spill off the coast of Mexico 30 years ago. Keeping track of the growing total is important, according to Larry McKinney, director of Texas A and M University at Corpus Christi’s Gulf of Mexico research institute, who told AP that BP's fine grows along with the gallons.
Citations:
usatoday.com
money.cnn.com
google.com/hostednews/ap/article