British Petroleum has been pressure testing the cap on the oil gusher, what now?
BP(BP) is still testing the cap on the oil gusher in the Gulf of Mexico. It seems to be holding. Tourism is starting to come back. However, the damage to the ecosystem, to local businesses, and to property values has still to be measured.
With property values already plummeting from the recent housing bubble, there is little doubt that values will still fall further. Renters and those interested in real estate on the Gulf coast, are holding their breath. But there is some good news.
Beachgoers are coming to the beach. Kaiser Realty reported getting an influx of people interested in reservations. Business are starting to see more business. Hopefully the trend continues. BP has reported that in the last 48 hours the testing on containment is going well.
British Petroleum has also said that they will extend the tesing indefinitly. AP reports that Orange Beach Mayor Tony Kennon says the crisis isn’t over, and he wants BP to start paying more claims and continue the cleanup. He also said that BP will not forget the promises they made when the spotlight was on them.
In the meantime, consumer confidence needs a lift! Especially the businesses on the beaches. Go out and enjoy the beaches of the area surrounding the Gulf of Mexico. While the testing going on by BP continues to go well, the cleanup continues.
© 2010, Gulfstream News. All rights reserved.
Related posts:
Comments on this entry are closed.