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Estimated Business Interruptions Losses of the Deepwater Horizon Oil Spill


Please use this identifier to cite or link to this item: http://hdl.handle.net/1928/12803

Estimated Business Interruptions Losses of the Deepwater Horizon Oil Spill

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Title: Estimated Business Interruptions Losses of the Deepwater Horizon Oil Spill
Author: Vargas, Vanessa
Advisor(s): Chermak, Janie
Committee Member(s): Grimsrud, Kristine
Santos, Richard
Department: University of New Mexico. Dept. of Economics
Subject: oil spill
business interruptions
natural disasters
manmade disasters
economics of disasters
disaster economics
deepwater horizon
LC Subject(s): BP Deepwater Horizon Explosion and Oil Spill, 2010--Economic aspects
Oil spills--Economic aspects--Mexico, Gulf of
Business losses--Louisiana
Business losses--Florida
Business losses--Mexico, Gulf of
Degree Level: Masters
Abstract: A generalized framework of Economic Analysis of natural and man-made disasters is applied to the estimation of business interruption losses associated with an oil spill. Specifically, this framework is applied to the Deepwater Horizon incident which occurred on April 20, 2010 and resulted in the extensive fouling of the Gulf of Mexico waters and the associated coastline. The region of analysis is the coastline extending east from Louisiana to the Pan-handle of Florida. Economic impacts were measured as business interruption losses reported as lost Gross Domestic product at the county, state, and national level. Short-run economic impacts were evaluated using the Regional Economic Accounting Tool, based on Input-Output methodology, for business interruptions of less than one year. Medium- and Long-run economic impacts were estimated using the Regional Economic Models, Inc. REMI. The REMI Model is a dynamic hybrid model that combines econometric, input-output, and computable general equilibrium equations to estimated economic impacts. Regional economic impacts, as measured by loss GDP, were found to be of more concern than national impacts.
Graduation Date: May 2011
URI: http://hdl.handle.net/1928/12803

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