Gulf of Mexico 1979, the "Ixtoc I" oil platform in the Bay of Campeche suffered a blowout leading to a catastrophic explosion, which resulted in a massive oil spill that continued for nine months before the well was finally capped. This was ranked as the largest oil spill in the Gulf of Mexico until the "Deepwater Horizon" oil spill in 2010. On April 20, 2010, the "Deepwater Horizon" oil platform, located in the Mississippi Canyon about off the Louisiana coast, suffered a catastrophic explosion; it sank a day-and-a-half later. It was in the process of being sealed with cement for temporary abandonment, to
Deepwater Horizon oil spill nose. The spill had a strong economic impact to BP and also the Gulf Coast's economy sectors such as offshore drilling, fishing and tourism. Estimates of lost tourism dollars were projected to cost the Gulf coastal economy up to 22.7 billion through 2013. In addition, Louisiana reported that lost visitor spending through the end of 2010 totaled $32 million, and losses through 2013 were expected to total $153 million in this state alone. The Gulf of Mexico commercial fishing industry was estimated to have lost $247 million as a result of postspill fisheries closures. One study projects that the overall