BARRON’S • June 10, 2020
he price of lobster has stagnated as restaurants nationwide operate at limited capacity and foreign markets essentially closed. In addition to the gutted demand amid the coronavirus pandemic, Maine lobstermen are facing potential changes to their gear and the fishing industry in general after an April ruling from the U.S. District Court for the District of Columbia. That ruling said the National Marine Fisheries Service violated the Endangered Species Act by failing to report the lobster industry’s harmful impact on the North Atlantic right whale. “There are no bright spots in fishing. Between Covid and the whale regulations, there is no good news,” says lobsterman Mike Dawson. “Covid is a current short-term blip. The whale rules have the potential to alter the fishery long-term.”