An Economic Analysis of the Deepwater Horizon Economic Settlement

Norman, Cantrell Gideon Macon (2017) An Economic Analysis of the Deepwater Horizon Economic Settlement. Undergraduate thesis, under the direction of David Fragoso Gonzalez from Economics, University of Mississippi.

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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.

Item Type: Thesis (Undergraduate)
Creators: Norman, Cantrell Gideon Macon
Student's Degree Program(s): B.B.A. in Economics and Banking & Finance
Thesis Advisor: David Fragoso Gonzalez
Thesis Advisor's Department: Economics
Institution: University of Mississippi
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
Depositing User: Cantrell Gideon Macon Norman
Date Deposited: 01 May 2017 14:13
Last Modified: 01 May 2017 14:13
URI: http://thesis.honors.olemiss.edu/id/eprint/749

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