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Posted Thu Oct 9 2008: from Bloomberg News:
World Fisheries Waste $50 Billion as Stocks Decline, UN Says
The damage to fish stocks through over-fishing has resulted in larger fleets chasing fewer resources, the report said. The waste amounts to 63 percent of the $80 billion worth of fish caught each year, the UN said in a summary of the report. Scientists say the world's fisheries may collapse by 2048 if catch levels are maintained. Government subsidies have reduced incentives for change, the UN-World Bank report said. Reducing fleet capacity would increase profitability and allow fish stocks to recover, increasing yields, the report said.
[Read more stories about: overfishing, stupid humans]

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