The Deepwater Horizon disaster killed 11 men and a large amount of oil has been released into the Gulf of Mexico, some of the most important fishing grounds in the U.S. As a result, the Gulf coast economic outlook is not good for the near future, especially with the current recession. This is a terrible tragedy, no doubt, but the media hysteria over this spill is nonetheless overblown, and to claim that it spells the end of a way of life for many Gulf residents is questionable at best. Oil spill disasters of equal or greater magnitude have occurred over the past century with little or no long term consequences.
To be honest, considering the magnitude of the spill, we thought the Ixtoc spill was going to have catastrophic effects for decades. ... But within a couple of years, almost everything was close to 100 percent normal again.