Up to this point, is the loss due more to the actual oil spill or the hysteria generated by the press?
The fact that Gulf Shores, AL is telling people to stay out of the water doesn’t help. Gulf Shores isn’t cheap.
“Up to this point, is the loss due more to the actual oil spill or the hysteria generated by the press?”
I think it’s about a 50/50 split between the two. The tar balls are yucky, but the water is mostly clear, and 95% of the beach is still white sand. Most beach-goers are just taking in the beauty and laying on towels. People who choose to get in the water aren’t coming out covered in oil, but if I was living 100’s of miles away, planning a vacation, I would think twice about choosing the gulf coast.