Destructive subsidies for deep sea fishing

It is a truth universally acknowledged that if you tax something, you will get less of it, and if you subsidize something, you will get more of it. Take the case of deep-sea bottom trawling. From BBC,

Fuel subsidies that allow fishing fleets to “plunder” the deep seas should be scrapped, claim a group of leading international scientists.

They said more than $150m (£80m) was paid to trawler fleets, promoting overfishing of unviable resources.

In particular danger were slow-growing deep-sea fish and coral species caught by bottom trawling, they argued.

2006 UN talks failed to implement a ban on the method, which uses heavy nets and crushing rollers on the sea floor…

Researchers at the University of British Columbia estimate that without subsidies, these fleets would operate at a loss of $50m (£27m) annually.

Most of the subsidies were for fuel, the marine researchers said, which allows the trawlers to travel far out to sea and drag the heavy nets needed for bottom-trawling…

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