"On April 20, 2010, an explosion and fire occurred on the Deepwater Horizon drilling rig in the Gulf of Mexico. This resulted in 11 worker fatalities, a massive oil release, and a national response effort in the Gulf of Mexico region by the federal and state governments as well as BP. Based on estimates from the Flow Rate Technical Group, which is led by the U.S. Geological Survey, the 2010 Gulf spill has become the largest oil spill in U.S. waters. The oil spill has damaged natural resources and has had regional economic impacts. In addition, questions have been raised as to whether offshore regulation of oil exploration has kept pace with the increasingly complex technologies needed to explore and develop deeper waters. Crude oil has been washing into marshes and estuaries and onto beaches in Louisiana, Mississippi, and Alabama. Oil has killed wildlife, and efforts are underway to save oil-coated birds. The most immediate economic impact of the oil spill has been on the Gulf fishing industry: commercial and recreational fishing have faced extensive prohibitions within the federal waters of the Gulf exclusive economic zone. The fishing industry, including seafood processing and related wholesale and retail businesses, supports over 200,000 jobs with related economic activity of $5.5 billion. Other immediate economic impacts include a decline in tourism. On the other hand, jobs related to cleanup activities could mitigate some of the losses in the fishing and tourism industry."
CRS Report for Congress, R41262