Some of the most severe and complex economic effects of the DWH were on the Gulf of Mexico’s seafood industry, according to a study funded by the Bureau of Ocean Energy Management. The study used two modeling scenarios:
·      Using observed prices following the oil spill
·      Controlling for price changes by using pre-spill prices.
Overall, the estimated negative impacts were greater under Scenario 2 because prices generally rose following the spill.  There were sizable negative impacts to the oyster and menhaden fisheries under both scenarios; impacts to the shrimp fishery were only negative under Scenario 2. This study also entailed a descriptive analysis of the oil spill’s impacts on the seafood industry, which provides context to the model’s results.  This study provides a useful framework for understanding the impacts of the spill on the seafood industry that future researchers can build upon.

Read the report.