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Welcome to Aplia's economic news blog, a place to explore current events that relate to your econ classes.

Revisiting the Reach of the BP Oil Spill
by Ben Resnick


A year ago, cleanup efforts to recover from the Gulf oil spill were just beginning, but the effects of the spill were already finding their way into markets. While the debates and projections attempt to forecast how far the oil will spread, economists understand that the effects of the spill will reach further than the oil itself ever could. While many initial discussions focused on the local impact of the disaster, applications of the basic supply and demand model shed light on how a regional disaster can spread to national and global markets.

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