The 2010 Gulf of Mexico oil spill was the worst ever
recorded. Caused by a drilling accident at a well operated by
the international oil company British Petroleum, it led to the
release of almost 5 million barrels of oil; severely harming marine
wildlife in the Gulf. It also caused long term harm to the
regions fisheries and tourism industry. The clean-up of the
spill cost billions of dollars. What logic do economists use
when arguing that the costs of this clean-up should be included in
the American GDP calculations? What logic do critics use when
arguing the costs should not be included?
The 2010 Gulf of Mexico oil spill was the worst ever recorded. Caused by a drilling accident at a well operated by the
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