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Title: Stranded Capital in Fisheries: The Pacific Coast Groundfish/Whiting Case (Report)
Author : Marine Resource Economics
Release Date : January 01, 2009
Genre: Life Sciences,Books,Science & Nature,
Pages : * pages
Size : 121 KB

Description

Introduction The issue of "stranded capital" has arisen in recent and ongoing fisheries rationalization policy debates on the Pacific Coast. Both the West Coast groundfish and whiting trawl fisheries are under consideration for rationalization using individual fishing quotas (IFQs) and cooperatives (coops), respectively. As is always the case, heated debate has arisen over the initial allocation of IFQs. But in this case, the debate is over more than just the allocation of historical catch record-based shares among vessel permit holders. In particular, the Pacific Fisheries Management Council (PFMC) is currently debating whether some of the initial quota shares ought to be allocated directly to seafood processors. Current options under consideration by the PFMC include plans that would allocate 25% of the nonwhiting groundfish quota shares to processors and 50% of the whiting quota to shoreside processors. (1)