Gridlock on the Great Lakes: The 'Line 5' Oil Spill
- Nov 27, 2018
- Homepage Hero, News
“Oil Spill Economics: Estimates of the Economic Damages of an Oil Spill in the Straits of Mackinac in Michigan, Addendum A | Multibillion-dollar Economic Impact to Great Lakes Shipping, Steel Production, and Jobs” is a recent report conducted through a collaboration between Michigan State University’s respected faculty Dr. Robert Richardson and CMSE Dual Ph.D student Nathan Brugnone.
As an addendum to a study that found more than $6 billion in direct economic impacts to tourism, property values, and more under a realistic – not worst-case – spill scenario, the report claimed that a Line 5 oil spill in the Straits of Mackinac could trigger a domino affect that would shrink the nation’s Gross Domestic Product by $45 billion after just 15 days.
The link to download the full report and media release by FLOW is provided below: