Occasional Memo: 05/03/10
Macondo Fallout Delayed, but Steep
Beyond the tragic loss of the workers on the rig, and the still unknown environmental costs to the Gulf, the short term impact of the well‐blowout at the Macondo field will be limited. However, there are serious potential long‐term consequences for future production in the Gulf of Mexico and additional offshore areas. The environmental disaster also throws the future of climate change negotiations on Capital Hill into even greater uncertainty.