BP Oil Economic Losses

When the oil drilling rig in Deepwater Horizon caught fire and eventually sank on April 20, 2010 the economic impact throughout the country was felt almost immediately. While the coastline states from Louisiana to Florida felt the most substantial economic losses, the widespread nature of this tragedy has contributed to massive economic damage throughout the United States. Industries such as tourism, offshore drilling, and fishing took a huge hit and are still in the beginning stages of recovery today. Offshore drilling in the Gulf of Mexico contributes 23.5 percent of the United States’ total oil production, according to the U.S. Energy Information Administration (EIA). However, the oil industry was certainly not the only industry affected by the economic impact of the BP oil spill. From real estate prices to fisheries to tourism, both individuals and businesses across the nation and abroad were severely impacted by the environmental tragedy in the Gulf of Mexico. Arguello, Hope & Associates has a deep compassion for the countless individuals and businesses that have suffered economic losses as a result of the oil spill disaster. Our experienced BP oil spill lawyers are prepared to fight for the compensation that you and your family deserve. If you or your business has suffered as a result of the Deepwater Horizon oil spill, you may be entitled to financial recourse. To learn more about your legal options, please complete a Free Case Evaluation form on this page or call us at 888-CLAIM-68 (888-25246-68).

Economic and Property Damages Claims

Those who have sustained economic loss and property damages due to the spill are entitled to file a claim for compensation. Business owners such as real estate agents, vacation home owners, fisherman, wholesalers, and hundreds of additional sectors of business may be eligible to file a claim for the economic and property damages that their business has endured. The following categories are the most common class action settlements groups:

  • Seafood Compensation Program
  • Real Property Sales Loss
  • Individual Economic Loss
  • Wetlands Real Property Damage
  • Individual Periodic Vendor or Festival Vendor Economic Loss
  • Coastal Real Property Damage
  • Business Economic Loss
  • Vessel Physical Damage
  • Subsistence Loss
  • Start-up Business Economic Loss
  • VoO Charter Payment
  • Failed Business Economic Loss

Those individuals who fall into these categories are able to file a claim. It is important for claimants to understand that each available oil spill claim maintains a specific set of requirements that must be met in order to receive compensation. As such, we encourage all potential claimants to speak with an experienced lawyer to determine whether they qualify and to ensure that they are put in the best position to recover any settlement funds they may be entitled to. For more information, please fill out a Free Case Evaluation form on this page.

Medical Claims

BP, which is legally referred to as BP Exploration & Production Inc. and BP America Production Company, has established a class action settlement fund to address all medical claims in the United States. However, medical claimants must fall into the specific requirements of the class. Qualifying individuals will be entitled to payments for medical complications, periodic examinations, and access to the Gulf Region Health Outreach Program. The following will be included in the Medical Class:

  • Cleanup workers
  • Residents of specific regions in the coastal and wetlands areas of the Gulf Coast (in 2010)

If you believe that you or a loved one fall into the Medical Class, it is important to speak with a legal professional to discuss your current and future options. Our attorneys are experienced in representing victims of environmental disasters such as this. Please contact us and share your symptoms so we can evaluate your case.

Arguello, Hope & Associates will Fight for your Compensation

At Arguello, Hope & Associates, we take our role in the community very seriously. Our BP oil spill attorneys are determined to stand up against the large corporations that owe you and your family compensation. Far too many individuals and businesses attempt to handle this situation independently. Unfortunately, these people quickly recognize the difficulties associated with taking this solo route. The economic impact of the Deepwater Horizon tragedy continues to haunt businesses and individuals throughout the United States. It’s time for these people to get the compensation that they are entitled to receive! Fill out a Free Case Evaluation form above or call us at 888-CLAIM-68 (888-25246-68) to get started today!