Honors Theses

Date of Award

2017

Document Type

Undergraduate Thesis

Department

Economics

First Advisor

David Fragoso Gonzalez

Relational Format

Dissertation/Thesis

Abstract

The Deepwater Horizon oil spill of 2010 significantly impacted the Gulf Coast economy. The aim of this paper is to determine the adequacy of Deepwater Horizon Economic Settlement payments in achieving full recovery and restoration of the Gulf Coast economy. This paper contextualizes the event, analyzes other disaster techniques, and discusses the impact of the oil spill on dominant coastal industries. The results are constructed through linear regression models on employment figures for the coastal counties of all five Gulf states. An argument for each state is formed based upon the regression results, supplemented with outside sources and additional data as needed. So as to narrow the scope of the project, only data for counties on the Gulf Coast are included. Limitations of the study are discussed in the conclusion. The key findings are as follows: • The Deepwater Horizon Economic Settlement reparation payments have been adequate for the economic recovery of Texas and Florida. • The Deepwater Horizon Economic Settlement reparation payments have been sufficient for economic growth in Louisiana. Slight additional compensation may be needed to achieve complete recovery. • The Deepwater Horizon Economic Settlement reparation payments have been inadequate for the economic recovery of Mississippi and Alabama. Additional research should be done to account for the effects of temporary employment, shifting demographics, and lost revenue in 2010.

Included in

Economics Commons

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