Economic and Personal Impact
In 1991, following the collapse of the local marine population (particularly clams, herring, and seals) the Chugach Alaska Corporation, an Alaska Native Corporation, filed for Chapter 11 bankruptcy protection. It has since recovered.
According to several studies funded by the state of Alaska, the spill had both short-term and long-term economic effects. These included the loss of recreational sports, fisheries, reduced tourism, and an estimate of what economists call "existence value", which is the value to the public of a pristine Prince William Sound.
The economy of the city of Cordova, Alaska was adversely affected after the spill damaged stocks of salmon and herring in the area. Several residents, including one former mayor, committed suicide after the spill.
Read more about this topic: Exxon Valdez Oil Spill
Famous quotes containing the words economic, personal and/or impact:
“The labor of women in the house, certainly, enables men to produce more wealth than they otherwise could; and in this way women are economic factors in society. But so are horses.”
—Charlotte Perkins Gilman (1860–1935)
“Justice is conscience, not a personal conscience but the conscience of the whole of humanity. Those who clearly recognize the voice of their own conscience usually recognize also the voice of justice.”
—Alexander Solzhenitsyn (b. 1918)
“Too many existing classrooms for young children have this overriding goal: To get the children ready for first grade. This goal is unworthy. It is hurtful. This goal has had the most distorting impact on five-year-olds. It causes kindergartens to be merely the handmaidens of first grade.... Kindergarten teachers cannot look at their own children and plan for their present needs as five-year-olds.”
—James L. Hymes, Jr. (20th century)