The potential economic impact of losses to the commercial and recreational seafood industries in Louisiana by Hurricane Katrina could reach up to $1.6 billion over the next 12 months, according to a preliminary draft report by the state Department of Wildlife and Fisheries. While officials still need to conduct comprehensive assessments on the water and from the air, experts are already concerned that some commercial anglers will exit the trade as cheaper imports flood the market. "The industry is not going to exist for some period of time," says John Roussel, assistant secretary of the department.
Roughly 33 percent of all wholesale and retail seafood dealers reside in the impacted region, as do 63 percent of the state's charter boats. Rex H. Caffey, director of the Center for Natural Resource Economics and Policy at Louisiana State University, considers the preliminary impact released by the state to be "extremely conservative," especially since his office estimated commercial dockside prices to be about $1 billion earlier this year. Louisiana produces more seafood than any other state in the lower 48. "I never conceived losing this much of the market at one time," Caffey says.
David Lavergne, a fisheries economist with the state, says all the natural resources devastated by Hurricane Katrina are renewable, although no one knows when they may return. The preliminary study puts the potential loss at the docks, which is the first point of sale for fishermen, at $12 million for crab, $44 million for oysters, $11 million for saltwater fish and $81 million for shrimp. None of the figures, however, include losses from damaged boats, shut processing plants and damage to other equipment. Consumers may feel a temporary pinch from high prices, officials say, but that is unlikely to last as cheaper imports offer an alternative. ' Jeremy Alford
MURPHY OIL'S NEW LAFAYETTE HOME
Murphy Oil Corp. has leased space in Saloom Office Park on Asma Boulevard to put its New Orleans-based employees back to work, says Kevin Fitzgerald, a spokesman for the oil and gas exploration and production company.
Before Hurricane Katrina, Murphy employed about 300 people out of its downtown New Orleans office, including support personnel for E&P, refinery operations and downstream retail. In all, El Dorado, Ark.-based Murphy has about 6,000 employees.
Fitzgerald says the company has not yet decided how many New Orleans employees will work in Lafayette and whether the stay here will be permanent ' a move that would buck a longstanding trend of oil companies moving out of Lafayette. "All of those kinds of decisions haven't been made," he says. "We've got to get a bit of normalcy back to our lives."
The company's refinery in Meraux, where oil spilled into floodwaters after the hurricane, is still down. The hurricane also damaged some of Murphy's offshore facilities and hampered communication. ' Leslie Turk
"I am extremely disheartened by the political machines that are attempting to hijack my efforts along with others that advocate for children."
Landrieu, who is fighting to keep her seat for a fourth term, said that Ebola is serious and precautions should be taken, but she accused Republicans of using the virus outbreak in West Africa to "create fear" here at home.
Law enforcement agencies are participating in a "Louisiana Heroin Summit," designed to address the recent rise in heroin use and drug-related deaths around the state.
State education officials are preparing to release performance scores for public schools and public school districts.
Saints coach Sean Payton is starting a new week by emphasizing, repeatedly, the many good things he noticed during New Orleans' latest loss.
Tuesday's Blogs from the Bog!
Oscar de la Renta dies; Pistorius sentenced; World Series begins and more national and international news for Tuesday, October 21, 2014.
We will be offering our recommendations on the constitutional amendments tomorrow.
The justices did not comment in leaving in place lower court rulings that dismissed the lawsuits against BP and other companies involved in the worst U.S. offshore oil spill.
White registration is down by 7,700 voters while black registration has shot up by 7,100 voters.
Even though it had been rumored for months, U.S. Sen. Mary Landrieu finally pulled the trigger recently on a major campaign shakeup that moved control over to a few Big Easy insiders.
Louisiana's health department says it will seek law changes to stop billing sexual assault victims for exams and tests.
It wasn’t the historic slashes to higher ed funding or the ensuing tuition spikes that recently had LSU’s student body and faculty riled up in collective outrage.
Will $400 be enough for the re-election campaign of LPSB's Hunter Beasley to overcome two years of holding our school system hostage and hurting the education of our children all because of a personal dislike of the superintendent?
Saints tight end Jimmy Graham said Friday he expects his playing status in Detroit to be decided by coach Sean Payton on Sunday, shortly before the game.
Lawmakers have sidestepped a decision on whether they accept claims from Gov. Bobby Jindal's administration that the state closed last year's books with a nearly $179 million surplus.
Coming off the high of a fourth quarter comeback against Tampa Bay and a helpful bye week, linebacker Junior Galette sees a real turnaround coming for New Orleans' struggling defense.
Former President Bill Clinton, the Democratic Party's most popular surrogate this fall, is heading to Louisiana early next week for a campaign rally with U.S. Sen. Mary Landrieu.
Time and again you hear people say DA Mike Harson is unbeatable because he's doled out political favors over the past 20 years. But a new lawsuit could end that speculation.
After the season's signature win (so far), here are some helpful tips for Cajun Nation during the conference stretch.
Did the state close last year's books with a surplus or a deficit?
Practicing without limitations on Wednesday, running back Mark Ingram looked ready to return to a New Orleans offense that once again ranks among the NFL's best when the Saints play at Detroit on Sunday.
It’s been decided: Superintendents of Louisiana’s public school system will retain the controversial powers granted by Act 1 of the 2012 session.
Louisiana Treasurer John Kennedy has a bone to pick with the Jindal administration, which recently — surprise! — announced that the state ended the most recent budget year with a $178.5 million dollar surplus.
The messaging battle, however, isn't tied to individual campaign accounts. Third-party groups have poured millions of dollars into advertising.