By the time the floodgates open for new drilling, the environmental destruction and ecological devastation caused by drilling are likely to be worse than that of the BP oil spill in the Gulf of Mexico in 2010.
And with the drilling boom coming to a close, there is a good chance that the oil and natural gas extraction industry will continue to produce a large number of jobs for the foreseeable future.
The economic consequences of these disasters are immense.
A report by the Center for American Progress, a progressive think tank, found that oil and oil extraction companies have paid an average of $4.2 million per job lost to the Great Lakes region due to oil spills and oil spills in the past decade.
The economic impact of this devastation is estimated at $5 trillion.
The impact of oil spills on communities is even more staggering.
The report found that the economic impact for communities that are affected by oil spills is estimated to be as much as $30 trillion.
With the end of drilling, it appears that drilling will continue as long as there is oil in the ground, but the economic and environmental damage caused by the oil industry is likely to continue to be great.
According to the Center, the oil companies that are in the process of developing and expanding drilling operations will lose more than $600 billion in economic activity between now and 2025.
And the total economic and social impact of these spills is expected to be in the billions of dollars.