OPEC and non-OPEC allies, a group often referred to as OPEC+, decided at their first face-to-face gathering in Vienna since 2020 to reduce production by 2 million barrels per day from November.
Underfishing, which has become common in the U.S., occurs when fish are harvested at a rate lower than would produce maximum sustainable yield.
Hilborn said as much as 20 to 30% of potential yield is lost by cautious management.
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America imports anywhere from 70% to 85% of its seafood, according to NOAA. In 2020, the U.S. imported over 6 billion pounds of seafood worth over $21 billion, making for a national seafood trade deficit of $17 billion.
Some supply chains are murky. Many countries don’t have data on trends and stocks because they don’t have management systems in place, according to the FAO.
“Everything we do know suggests that, on average, they are fishing too hard,” Hilborn said, adding that those dominant countries include China, Korea, Vietnam, Indonesia, Thailand, India.”
The U.S. imported $2.4 billion worth of seafood from illegal, unreported and unregulated fishing in 2019, accounting for about 11% of total U.S. seafood imports, according to the U.S. International Trade Commission.
In both cases, the United States could choose to fish and drill more to create American jobs, lower prices, and increase GDP. In both cases, the United States has made policy choices to buy more critical resources from corrupt, criminal, totalitarian regimes. In doing so, not only have we chosen to harm ourselves in order to send pallets of cash to these countries that hate us, but we are also encouraging fishing and drilling practices that are more destructive to the environment than if we did it ourselves.
So… enjoy your expensive fish from… wherever… and your $6/gallon gas. These are the result of intentional policy decisions by politicians we elected.
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