Cod industry will collapse due to new cuts

“It’s really grim,” said Fiorelli, Reuters reports. “These stocks are in  real decline and questions were raised about whether they’ll ever come back.” An economic analysis by the council, which fishers consider too cheerful, estimated that the cuts would lower overall groundfish revenues by 33 per cent, from about USD 90 million in 2011 to about USD 60 million this year. Read more