When the settlement that would eventually be named Morgan City was founded in the mid nineteenth century, residents could not anticipate the geographical significance of the location. Not only was the area located on the banks of the Atchafalaya, but the water that surrounded the settlement covered a rich oil reserve.
Inhabitants of Morgan City (which was renamed from Bashear City in 1876) came to rely upon the nearby waterways as the backbone of their economy. The river and surrounding swamps are home to an abundance of shrimp, the culinary trademark of Morgan City. Constant passage of ships and boats down the Atchafalaya led to the building of a major port, which has brought trade-related capital into the city. Oil was discovered in the late 1800s, and the city began to acquire it in earnest in the mid-20th century. As such, oil, shrimp and port traffic are illustrated as the three major pillars of the economy of Morgan City. The presence of the “Shrimp and Petroleum” festival in the area is indicative of this reliance.
Unfortunately, the economy of Morgan City, being so intrinsically tied to specific industries, has suffered in the wake of several economic events. The oil bust hit the area hard, and there has been a steady decline in the number of oil-related jobs in the past several decades. Individuals who work in the seafood and fishery industry have less to worry about traditional layoffs than those who are in the oil industry, but in the aftermath of the BP Oil Spill and a subsequent (unrelated) overturning of an oil rig in the Morgan City area, their livelihood is directly threatened. There has been some diversification of Morgan City’s economy, and attempts to attract new industries to the area and expand the tourism industry, with some success. Fundamentally, however, Morgan City’s economy and workforce rely upon the presence of oil and fishery related jobs. In an area where the economy is suffering, and sizable percentage of the population is in poverty, it is clear that the oil and seafood industries can no longer sustain the area indefinitely
If you have any questions about your Morgan City, Louisiana legal matter, please give Lavis Law Firm a call at toll free 1-866-558-9151 or submit your inquiry online. We help people recover money from corporations, insurance companies and governments by overcoming problems, hassles and delays.