Fuel increase, subsidies, overcapacity, and sustainability
Resource
This paper discusses the role of fuel subsidies to the fishing industry and argues that the fuel subsidies can maintain over capacity and unsustainable harvesting of fish in times of inflated fuel prices. The abstract is below.
Global fisheries are currently overcapitalized, resulting in overfishing in many of the world’s fisheries. Given that fuel constitutes a significant component of fishing costs, we expect recent increases in fuel prices to reduce overcapacity and overfishing.