New analysis of hurricane Katrina’s destruction by the Center for Responsive Politics (CRP) finds that the industries that caused the destruction are likely to have been among the biggest contributors to the catastrophe.
The study, published by the CRP’s Institute for Policy Studies, was based on public documents from the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP).
The study’s findings are the first to quantify the extent to which the industries most likely to be at fault in Katrina’s flooding were the chemical and petroleum industries.
It found that of the four industries that contributed most to Katrina’s devastation, the chemical industry was the second-biggest contributor.
In fact, of the three other industries that did most to the flooding, the petroleum industry was fourth-bigger contributor.
That suggests that the chemical sector’s direct and indirect costs are likely far greater than the millions of dollars in compensation paid by the industry.
The chemical industry’s direct costs include damage from hurricanes, storm surges, and coastal flooding.
According to the report, those indirect costs include lost income and property damage, pollution, lost income, and damage to infrastructure.
The CRP found that in all four cases, the direct cost to the communities and communities of Gulf Coast states was more than double the direct costs of the industry’s indirect costs.
According the CRPS, the industry contributed to Katrina by producing more than 30 percent of the chemicals that caused Katrina to happen.
These chemicals include some of the most toxic chemicals in the country, including chloroform, chlorine, and hydrogen cyanide.
The report estimates that the industry also contributed to the damage to communities and infrastructure by contributing to contamination of drinking water supplies and the destruction of homes.
But the industry was far from the only one to contribute to the disaster.
The oil and gas industry, which is responsible for the majority of the damage in the Gulf of Mexico, was also among the industries least responsible for Katrina’s damage.
According its own website, the energy industry contributes more than $500 billion annually to the U.S. economy, and provides jobs, energy security, and economic prosperity to more than 11 million people.
The BP spill in the Persian Gulf has been a watershed event for the industry, and the industry is still reeling from the impact of the accident.
As the study found, the oil and chemical industries contributed a combined $4.4 billion to the total damages from Katrina, while the industry directly paid out $1.6 billion to those impacted.
The findings are a blow to the industry that has been hailed as a savior of the Gulf Coast after Hurricane Katrina.
According CRP President Steve Chapman, the report’s findings highlight how the industry has played a crucial role in creating a disaster that destroyed the region.
“The oil and chemicals industry was not only the largest single source of direct and direct costs to the Gulf, but also a major driver of the disaster, and is responsible both for the direct losses of life and for the indirect costs, such as pollution and lost income,” Chapman said in a statement.
“With the industry still reeling after Hurricane Irene, it’s vital that these facts be acknowledged and the industries’ financial culpability for Katrina be fully recognized.”
The CRPS’ report has also received attention from a bipartisan group of senators, including Senator Chris Coons (D-DE), who called the report “a wake-up call for all of us.”
The report also came out just as the Senate is set to vote on a bill to prevent any future disasters from the chemical or oil industry, called the Gulf Restoration Act.
This bill would require the industries to provide compensation for direct and adverse damages to communities caused by any chemical or petroleum spill.
According a spokesperson for the Senator, the bill will not prevent future disasters, but instead will allow Congress to make sure that future disasters don’t occur.
The full report can be found here.