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Article: Selling the seven seas. (National Marine Fisheries Service)
- Article from:
- Multinational Monitor
- Article date:
- April 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 Essential Information, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The recent armed boarding of a Spanish trawler by Canadian officials - and the resulting exchange of diplomatic salvos - illustrates the mounting tension over the world's diminishing fish stocks.
To address overfishing problems, the U.S. Department of Commerce, through its National Marine Fisheries Service (NMFS), is planning to revamp regulations governing fishing rights in U.S. waters. NMFS would like to resort to individual transferable quotas (ITQs) that give fishers and large corporations property rights to fishery stocks in U.S. waters - at no cost. Proponents of the idea include big fishing companies and some environmental groups, such as the Environmental ...