| The Pew Environment Group released a report today (available at http://www.endoverfishing.org ) called "Investing in Our Future: The Economic Case for Rebuilding Mid-Atlantic Fish Populations." It compares what DID happen and what COULD HAVE happened if we had rebuilt the populations of four mid-Atlantic fish species by 2007 (summer flounder, black sea bass, butterfish, and bluefish). Long story short, rebuilding these fish populations would have generated at least $570 million per year in "direct economic benefits." In other words, our extractive management of fish populations isn't even helping us out financially. And it certainly isn't helping us ecologically. So with no real benefits for poor management of fish populations, what the heck are we doing?
From their press release:
Delays in rebuilding translate to lost opportunities for commercial and recreational fishermen to catch the maximum amount of fish that can sustainably be taken from a population. Failing to quickly address overfishing and allow populations to rebuild as quickly as possible forgoes current financial benefits and may result in more costly regulations in the long-term.
Key findings from the report show that:
- Commercial landings would have increased by 48%, if the four populations had been rebuilt by 2007. The financial value would be approximately $33.6 million per year in perpetuity.
- Rebuilding would bring an increase in recreational landings of 24% more per year than the status quo management. The economic value would be approximately $536 million per year in perpetuity.
- These direct economic benefits would also likely generate secondary financial benefits in the Mid-Atlantic region through increased income, sales and jobs from businesses associated with commercial and recreational fishing, including bait and tackle shops.
While this report concludes that we need to take action, it seems that Congress has already done so. In 2006, Congress reauthorized the Magnuson-Stevens Fishery Conservation and Management Act, strengthening it to hopefully rebuild fish populations within 10 years. So, in other words, what we've done is too little, too late. |
