Tarred and Feathered Etouffee

The oil spill which began with an explosion on an oil rig in the U.S. Gulf of Mexico has developed into a rapidly‐deteriorating situation threatening local wildlife and national commerce and is also likely to have longer‐term implications for recently‐announced plans to increase offshore drilling. Unlike past spills of contained volumes, the continuing flow from the site could take up to 90 days to quell, and adds additional pressure and uncertainty to the situation. The spill has slowed traffic on critical trade routes for petroleum, among other goods, and raised a number of logistical issues likely to have wide‐ranging consequences for tanker markets in the weeks to come.