Commentary: Aquaculture a broken business model that's ruinous for the environment - Saltwire

Quote from the article: "In fact, both the method of open-net aquaculture and the business model being proposed to develop it will allow use of the valuable resource of our ocean bays in a way that will minimize local economic and social benefit while maximizing degradation of local environments.

Simply stated, this broken model allows for:

1. Foreign or non-local corporations coming in to the area;

2. Extracting of maximal value out of the resource;

3. Using the lowest-cost technologies to maximize profits;

4. Extracting those profits, leaving little or none in the local area;

5. Leaving behind the maximum allowable environmental degradation for free (also called “externalities”), constrained by local regulations;

6. Creating the least number of local jobs possible (while using inflated job numbers to sell the project at the beginning).

The end result is that value from the resource is extracted, the profits are extracted, the resource is degraded, and communities only get a few part-time, hourly wage jobs — a broken business model for local economics."

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"Let’s grow fish, but let’s do it in a way that assures the maximum long-term economic benefit to our communities and the essential long-term stewardship of the beautiful bays that we call our home."

Saltwire | February 10, 2020 | By: Robert Cervelli & Gregory Heming

Link to full article here.

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