Estimating the economic loss of recent North Atlantic fisheries management

It is accepted that world’s fisheries are not generally exploited at their biological or their economic optimum. Most fisheries assessments focus on the biological capacity of fish stocks to respond to harvesting and few have attempted to estimate the economic efficiency at which ecosystems are exploited. The latter is important as fisheries contribute considerably to the economic development of many coastal communities. Here we estimate the overall potential economic rent for the fishing industry in the North Atlantic to be B€ 12.85, compared to current estimated profits of B€ 0.63. The difference between the potential and the net profits obtained from North Atlantic fisheries is therefore B€ 12.22. In order to increase the profits of North Atlantic fisheries to a maximum, total fish biomass would have to be rebuilt to 108 Mt (2.4 times more than present) by reducing current total fishing effort by 53%. Stochastic simulations were undertaken to estimate the uncertainty associated with the aggregate bioeconomic model that we use and we estimate the economic loss NA fisheries in a range of 2.5 and 32 billion of euro. We provide economic justification for maintaining or restoring fish stocks to above their MSY biomass levels. Our conclusions are consistent with similar global scale studies.

Local perceptions of the QICS experimental offshore CO2 release: Results from social science research

This paper explores the social dimensions of an experimental release of carbon dioxide (CO2) carried out in Ardmucknish Bay, Argyll, United Kingdom. The experiment, which aimed to understand detectability and potential effects on the marine environment should there be any leakage from a CO2 storage site, provided a rare opportunity to study the social aspects of a carbon dioxide capture and storage-related event taking place in a lived-in environment. Qualitative research was carried out in the form of observation at public information events about the release, in-depth interviews with key project staff and local stakeholders/community members, and a review of online media coverage of the experiment. Focusing mainly on the observation and interview data, we discuss three key findings: the role of experience and analogues in learning about unfamiliar concepts like CO2 storage; the challenge of addressing questions of uncertainty in public engagement; and the issue of when to commence engagement and how to frame the discussion. We conclude that whilst there are clearly slippages between a small-scale experiment and full-scale CCS, the social research carried out for this project demonstrates that issues of public and stakeholder perception are as relevant for offshore CO2 storage as they are for onshore.