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Cap and Trade for Fishing

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By Ben Cohen

Some positive news for the environment. The rapid depletion of the world's fish is a serious problem which could have serious ramifications for complex underwater eco systems. Thumbs up for the Obama administration:

The National Oceanic & Atmospheric Administration has created a task force to advance the use of cap-and-trade regulatory schemes for fisheries.

The "Catch Share Task Force," announced yesterday, includes 16 NOAA
advisers and fisheries experts to shape a system for setting strict
catch limits and distributing total catch shares to commercial fishers,
usually based on their historical catch. Fishers can then buy and sell
their shares.....

The new task force indicates an increased commitment from the Obama
administration to advance fisheries cap-and-trade. The administration
also requested significant new funding for fiscal 2010 budget for the
effort. The House approved a NOAA spending bill last week with $18.6
million for "catch share" fisheries. A Senate panel will take up its version of the bill today.