The unprecedented Gulf Coast disaster resulting from the underwater explosion of the Deepwater Horizon oil rig off Louisiana's coast on April 20 will destroy many jobs, businesses, and property values. As the rig burned nightmarishly for two days before it sank, oil spewed from beneath the Gulf of Mexico where the capping or cementing of a pipe had gone awry.
Businesses and individuals affected by the spill are entitled to collect damages for loss of income and profits, and property owners who suffer devaluation of their property are entitled to compensation for the diminished value.
Commercial fishing has already been shut down in parts of Florida, Alabama, Mississippi, Louisiana, and Texas. Tourism is expected to drop dramatically as a result of which businesses that cater to tourists, like hotels, restaurants, water sports vendors, charter fishing vessels, scuba shops, and others will suffer. Businesses and individuals who have already had these losses or expect to have them, should immediately seek the advice of negligence attorneys whose knowledge is applicable to oil spill cases.
In this firm, Wes Pittman is an experienced mass catastrophe attorney who is representing clients in this disaster. As a part of his services, he offers free initial consultation and evaluation of oil spill claims.
As the massive oil spill moves through the Gulf of Mexico closer to shore, it is imperative that businesses and individuals know their rights and how to avoid common defenses advanced by defendants, like BP and Transocean, in similar cases. The magnitude of the problem is certain to be monumentally costly as over a million gallons of crude oil are released daily to kill fish and other wildlife.
It is likely that commercial fishing and shrimping will be damaged for decades as oil damages the reproduction abilities of fish and shrimp and pollutes their breeding grounds. Property owners who rent their coastal condominiums and houses are in for substantial losses of income.
Under federal and state laws, individuals and businesses are entitled to monetary compensation for their losses. For example, under the Oil Pollution Act of 1990, those deemed responsible for the losses are liable to make these payments. Anyone, not just the owners of property, who loses profits or income as a result of the oil spill may make such a claim.
Learn more about what to do if you have oil spill damage.