Gulf oil spill – negative externalities

With 5,000 barrels a day leaking into the gulf one wonders the size of the negative externalites at the end of this catastrophe. As stated in the UK Guardian Newspaper  – The Republican slogan Drill, Baby, Drill, should now be written as Clean, Baby, Clean. BP have assured the Obama Administration that they will pay the bill for the clean-up which is already US$450m.  Below is the negative externalities graph which I have covered with my AS class.

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