Excessive and poorly regulated fishing is leading to: a decline in biodiversity, threatening endangered species, and causing entire fisheries to collapse.

It is reported that approximately 70 percent of fisheries in the world are either over-exploited or have already collapsed.  Soon, domestic shortages will become global shortages.  Scientists predict that if this trend continues, all current fisheries will collapse by 2048.  President Obama is being urged to take on the task of examining all federal fishery management plans by 2012, with at least half of them incorporating catch share management by 2016.

Catch share restricts the amount of allowable catch, restricting fishing to a sustainable yield, and thereby, alleviating overfishing.  The use of cap-and-trade systems with marketable permits has proved effective in the past.  In Australia, the government adopted a permit system to address the overharvest of lobsters.  The sustainable yield of lobsters was estimated, and the government issued catch permits totaling the specified amount.  Fishers could then bid and trade permits, allowing the market to determine its price.  Since its adoption in 1986, the fishery has stabilized and currently operates at a sustainable yield.

However, critics argue that fishermen will be financially burdened by the restricted number of allowable catch.  So, rather than initially setting a total allowable catch at or below the sustainable capacity, a gradual limit of quotas can alleviate the immediate financial impact on fishermen.  By incrementally decreasing the quota limit to progressively reach the sustainable yield, fishermen have time to adjust to limited catch numbers.  And, because marine reserves are repopulating and replenishing marine life, fishermen can reap the benefits of a replenished ocean after several years.

In any account, it is imperative to take action and protect our fisheries before it is too late.  You can do your part by buying non-toxic seafood that is caught in a sustainable fashion.  Click here for a comprehensive list.