How bad is the oil gusher in the Gulf? Bad. According to a new study, it could cost America 200,000 jobs, making the economic cost over $10 billion dollars. This includes a 50% drop tourism and related spending. Oh wait... Did I say America? That's misleading, I'm sorry. I should've been more specific. I meant just Florida. And $10 billion's the lowball. It could be as much as $740 billion. "The whole economic impact of the episode is a giant layer cake of uncertainty,"
economist Sean Snaith told the Miami Herald. "How many counties will be affected? I don't know. We won't really know until the oil starts washing up on the shore."
And BP could be on the hook for a whole lot of that money. Or not. Depends on who you ask.
Business Insider:
The happy talk about from BP (BP) about how it will do everything to "make it right" in the Gulf is quickly dissipating.
The straw that broke the camel's back: Noise out of Washington that BP ought to pay the salaries of everyone that's lost their job due to the spill.
An anonymous BP source, presumably someone senior that wants to get a message out, told Reuters: "At some point a line has to be drawn," in response to the new suggestions...[CLICK TO READ FULL POST]
