ECONOMIST: Ban Of High-Seas Fishing Saves $2 Per Person On The Planet [View all]

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http://www.businessinsider.com/economist-ban-of-high-seas-fishing-saves-2-per-person-on-the-planet-2014-2


US Coast Guard prepares to board a fishing vessel while on patrol in the Pacific Ocean off of the coast of San Francisco on March 7, 2013

Fishing the high seas is a losing investment, an economist told political leaders, corporate kings and environmental warriors Wednesday, backing calls for protecting the open seas.

McKinsey & Company director Martin Stuchtey subtracted politics from the equation and laid out numbers showing that a ban on high seas fishing would cost $2 per person on the planet, while returning $4 per person.

"You would need to spend the two dollars to get the four dollars; that is much better than anything the bank offers you right now," Stuchtey told AFP after an on-stage chat at a World Ocean Summit organized by The Economist weekly newspaper.

A handful of nations spend lots of money subsidizing fleets that must range farther and farther at sea for fish as stocks are depleted. The bulk of their catch goes to developed nations.



Read more: http://www.businessinsider.com/economist-ban-of-high-seas-fishing-saves-2-per-person-on-the-planet-2014-2#ixzz2uWsKqeZJ