2010 BP Gulf Oil Spill Ecological Damages Valued at $17.2 Billion, According to Research Published on April 20, 2017

In the April 20, 2017, issue of Science, a team of researchers (including Kevin Boyle of Virginia Tech’s Department of Agricultural and Applied Economics) estimated that the BP Deepwater Horizon oil spill, which began April 20, 2010, resulted in the equivalent of $17.2 billion of damage to natural resources.

The estimate was based on a household survey asking what people would be willing to pay to prevent or reduce a future recurrence of the kinds of damages (to organisms and habitats) seen from the 2010 incident.

The article is “Putting a value on injuries to natural assets: The BP oil spill,” in the April 20, 2017, issue of Science (Vol. 356, Issue 6335, pages 253-254), available online at http://science.sciencemag.org/.  (The direct link to article is http://science.sciencemag.org/content/356/6335/253, but a subscription is required for access.)  A summary of the research is available in BP oil spill did $17.2 billion in damage to natural resources, scientists find in first-ever financial evaluation of spill’s impact, Virginia Tech News, 4/20/17.

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