Tag Archive: disasters

How Much Do Man-Made Disasters Cost The Economy?

Contributed Post The cost of man-made disasters can be extraordinary. Take the BP oil spill in the Gulf of Mexico at the beginning of the decade. The oil spill, which began at the Deep Horizon oil rig in 2010 led to spillage of more than 200 million gallons of crude oil over the following 84 days. To make matters worse, BP seemed incapable of turning the spigot off, making it one of the most massive oil spills in history – much more than a typical oil tanker slick.  The issue at the time was the damage that it was doing to the environment. As it turned out, the effect didn’t seem as significant as many people had imagined when the news first broke. However, social…
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