Wednesday, May 28, 2008

Fish to Oil Specs: Thanks!

Some creatures couldn't be happier with the dramatic rise in oil prices resulting from robust EM demand and monetary policies, gluttonous American use, commodity index funds, American monetary and fiscal policies and the dreaded Oil Specs. Indeed with Spanish and French fisherman in the streets as if it were 1968, fish - both coastal and pelagic - have been given a most welcome reprieve.

Spanish fisherman have moaned that while petrol - their main cost - and more than quintupled, fish prices on the dock have barely budged, and they want help...NOW! "Sorry Charlie!!" was the saying the tuna cannnery was reputed to have said to lowly albacore deemed unworthy of Starkist quality. Today, however, it is the fish (or what's left of them) for the first time in centuries, who've the upper hand and finning their ummm errrr snouts? at the greedy mariners.

Of course, I still see the deep sea party boats with patrons for whom "money is no object". But for many of the PWT sport fishermen, angling will gladly (at least for the fish and conservationists) be out of economic reach.

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