Economic Concerns Linger on the Anniversary of Gulf Spill

Yesterday marked the first anniversary of the disastrous BP oil spill. Remembrance of the fateful months after the spill was followed by strict criticism from several politicians across the country. Gov. Bobby Jindal appeared on television this morning offering praise towards the residents of Louisiana and neighboring states for a resilient and speedy recovery. While the speed of the recovery is reason enough to celebrate, Jindal’s message took a more somber tone, focusing on the “one-size-fits-all moratorium” that was placed on the Gulf States following the spill.

With the stigma of the spill remaining clear in the minds of many Americans, tourism in the Gulf has taken a significant hit. Several Governors are attempting to reel visitors back into their states, but the policies introduced following the spill are only further crippling economic recovery in the Gulf. It is no secret that the price of oil continues to rise at an out-of-control pace. The average price of gas has risen by nearly a dollar since the spill and production has been stunted by nearly a third. Gov. Jindal, and others, argues that increasing offshore drilling would only alleviate some of the economic burden that all Americans face.

As this infographic demonstrates, the administration’s disastrous energy policies have had a hand in nearly all of the deleterious long-term effects of the Gulf spill crisis (click to enlarge).

Safe drilling remains at the forefront of the administrations mind, but the continuation of this moratorium has only hurt small business and added to the already high unemployment rate. The rising price at the pump has spurred increase support for off-shore drilling. A recent CNN poll shows that Americans are beginning to learn towards increased drilling. The survey showed that 69 percent of Americans favor increased offshore drilling, with just over three in ten opposed. That 69 percent is up 20 points from last June, while the oil spill was still in progress, and is back to the level of support seen in the summer of 2008.

Support for offshore drilling has gained support on both sides of the aisle. Fifty-six percent of Democrats favor more offshore drilling, compared to 70 percent of independents and 86 percent of Republicans. With a majority of support across the political spectrum, we may begin to see a push in Washington for a decrease in regulation.