"The recent Gulf Coast Oil Spill is the issue I have decided to investigate."

For my topic to investigate I decided to investigate and learn about the recent oil spill in the Gulf Coast. Located 48 miles off the shore of Louisiana, the Deepwater Horizon drilling rig exploded on April 20th, killing 11 workers. The drilling rig was owned by the Transocean Ltd. and leased by BP PLC. However, Bp is responsible for cleanup and containment of the spilling oil. Since April 20, oil has been spilling into the gulf at about 210,000 gallons a day. (information found here)



( picture from here)

Right now it is said that the state of Louisiana has spend 5 million dollars towards the clean up of the spilling oil. However, that number is expected to quadruple next month at 20 million dollars. ( find here) You may be wondering "What has been done to fix the problem of the spilling oil?". Well, the spill hasn't been completely stopped however, there has been some progress in reducing the amount of oil reaching the sea. On May 18th the BP company inserted a siphon pipe into the leaking pipe. This act has allowed about 40% of the oil to be stopped from reaching the oil. ( found here) Unfortunately though, there is still major work to be done in order to completely eliminate the leaking oil.
(picture found here)

Not only have the worlds of the BP company been turned upside down, but the fishermen and residents of the affected states of the oil spill. The National Oceanographic and Atmospheric Administration has sealed off 19% of the Gulf Coasts' fishing grounds as un-fishable. ( found here) However, BP is expected to cover financial losses of fisherman, economic losses, etc. ( found here)






( fishermen waiting for contract with BP : here)


"Could the oil spill affect gas prices?" As of right now the current oil spill has not affected the gas prices and is not expected to unless the port stays closed for a long period of time. With the U.S. economy being so weak right now, the refining companies have a surplus of gas therefore, allowing the current oil spill not to currently affect gas prices. Peter Beutel, an analyst with Cameron Hanover in New Canaan, Conn, says that " Even if this were to increase gas prices by a nickel, it wouldn't be for more than a couple of days." ( info found here) In reality though, it's probably best just to wait and see what happens, since the countries economy is so up and down right now.
( oil spill here)
(question mark here)

"How does this topic relate on the International level?" Well, while the oil spill in the Gulf may not be affecting countries such as China, Japan, etc: it is affecting the U.S., which is known as a world power. And with the U.S.' economy already being in a crisis it really didn't need another major event take place. So, although it may not be a big impact on other countries and world powers the way the oil spill has affected the U.S. is likely to cause some effects in other countries, however big or small. This incident also serves as a great example to other countries that dig for oil in oceans. Particularly in how not to act, and how to act. So, one could look at this incident as a big learning experience for everyone, but that doesn't really make anybody fell better.