Tag Archives: (IFQ)

Zurik: ‘Snapper barons’ raking in riches from public resource

On the tip of Louisiana’s coast, Dean Blanchard built his seafood business from nothing. “It’s what made America great, is hard-working, good people,” Blanchard says. But, he tells us, a few miles away from Grand Isle – on waters owned by taxpayers – a multi-million-dollar government handout functions like the opposite of the capitalism that helps put food on his table. “When Russia and China just let certain people do certain things, what do we call them? We call them communists. I mean, I don’t see no difference.” Blanchard is criticizing a federal program, unknown to most taxpayers, that allows a handful of businesses and fishermen to make millions off a government resource – creating what some fishermen call “Lords of the Sea.” But there’s more. Many of the shareholders don’t even fish. We spoke with Galveston’s Buddy Guindon, third on the list, who can make $1.4 million. “It’s a great asset,”,, You won’t read this stuff in a NOAA report!  Click here to watch the video and read the story along with interactive Top 15 IFQ Shareholder info graphs. 20:54

CFOOD: Ethical Issues in the Gulf Snapper Fishery

CFOODIn 2007 the Gulf snapper fishery moved to an individual fishing quota management system (IFQ). Under this system, each fisher was allocated a certain amount of fish for the year instead of having a fishing season and race to fish. Kingpins of the Gulf make millions off red snapper harvest without ever going fishing by Ben Raines, AL.com January 24th 2016 “AL.com has looked into the issue of leasing of red snapper quota, and found that prices for commercial leases have meant working fishermen often pay more to lease snapper quota from the quota holders than they earn from the catching the fish itself. They question why commercial snapper, unlike oil or forestry products, should not be put out to bid, but allocated to the historical fishermen.” Raines concluded that 77 percent of the annual red snapper catch is held by just 55 people. Bruce Turris, President of Pacific Fisheries Management Inc. responds. Read it here 21:12