Critical Think Paper - I think the oil spill will affect...

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Tat Sang Lao ECON 202 – David Bell June 7, 2010 CTP 10 Seafood The giant oil slick in New Orleans is just a disaster for the ecosystem. It not only kills huge amount of marine life but also breaks the food chain. Food chain is an element to an ecosystem. That’s why Rocky Dictharo said “when you kill that food chain, nothing’s going to come back to this area.” If I sold seafood in my business, I will get my supply from different sources to ensue my supply will not be stop. A smart business runner should get his supply from several sources. If a business just gets supply from one supplier, it will be in trouble when the supplier has something wrong. For example, the restaurants in Louisiana are dealing with their seafood supply because the sea was polluted. Even though the cost of supply might be increase a little bit, it can ensure the business keep running.
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Unformatted text preview: I think the oil spill will affect the price of seafood in Louisiana keeping in a high level and that will last for a long time. People cannot fish in this area anymore because of the pollution. That means people have to get the supply of seafood from other places so that the price of seafood have to increase to cover the additional cost. Moreover, the demand of seafood is huge. Oil slick declines the supply, so seafood price will be kept in a high level. Even though the oil slick will be cleared, the seafood price will not decline immediately. It seems the oil spill just affects the fishery, but according to the multiplier effect, I think the micro economy in this county such as the employment rate will be affected....
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This note was uploaded on 04/17/2011 for the course ECON 202 taught by Professor Kotlove during the Spring '11 term at Edmonds Community College.

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Critical Think Paper - I think the oil spill will affect...

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