'Bloomberg' interviews UNE鈥檚 Barry Costa-Pierce about the financial hurdles of deep-water aquaculture
Bloomberg interviewed Barry Costa-Pierce, Ph.D., Henry L. & Grace Doherty Professor of Marine Sciences at the 51品茶, chair of the Department of Marine Sciences and director of the 51品茶Center for Excellence in Marine Sciences about open ocean aquaculture and why the industry has struggled to take off in the United States.
The article, titled, 鈥淭he $100 Million U.S. Government Fish Farm Nobody Wants鈥 addressed the funding the National Oceanic and Atmospheric Administration (NOAA) has poured into aquaculture and why that money has not resulted in industry growth. Costa-Pierce explained that one hurdle is the immense costs of deep-water aquaculture. 鈥淏y definition, you鈥檙e talking about industrial aquaculture,鈥 he said. 鈥淭he best way to do that would be to use existing deep-water infrastructure from oil rigs. If you鈥檙e talking about developing a whole separate infrastructure for offshore aquaculture separate from an existing capacity, I am very skeptical. In the Gulf, I don鈥檛 see very many companies rushing to get in because they know they can鈥檛 make money.鈥
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