Environmental Permit Delays, Ship Sinking Expense Rises

Do environmental concerns raise economic concerns too? Its not banking on environmental cause. But, delay in environmental permit may swell economic investment for the cause, in multiples. This is what is happening with the retired aircraft carrier, the USS Oriskany. The Navy’s cost of sinking the 888-foot long carrier, as an artificial reef has increased from $2.8 million to $12.73 million, as it has been delayed in obtaining a permit from the Environmental Protection Agency. The aircraft is a combat veteran of the Korean and Vietnam wars. It would be the largest ship purposely sunk as an artificial reef, once the environmental problems are met.

Via: Miami Herald