Question

By all accounts, oceans and seas around the earth very much polluted. Based on what you have studied in this course, provide an economic explanation for the cause of this problem.

Answer 1

The oceans economy is characterized as a subset of the emerging development paradigm that emphasizes greener and more sustainable and inclusive economic paths and complements it. It aims to broaden the coastal countries ' economic frontiers beyond their land territories. The economy of the Oceans encompasses a sustainable economy for the ocean-based marine environment, related biodiversity, ecosystems, species and genetic resources including marine living organisms and natural resources on the seabed, while ensuring their sustainable use and therefore conservation. The size of the global ocean-based economy is estimated at USD 3-6 trillion / year and more than 3 billion people rely on the oceans for their livelihoods

Eighty per cent of aquatic pollution comes from the ground. One of the main sources is the nonpoint source contamination, which is caused by runoff. Nonpoint source pollution includes many small sources such as septic tanks, vehicles , buses, and boats, plus larger sources such as fields, ranches, and forest areas. Millions of motor vehicle engines leak tiny quantities of oil into highways and parking lots every day. A lot of that makes its way to the sea, too.

In fact, some water pollution begins as air pollution which settles down into waterways and oceans. Dirt may be a polluting material. Top soil or silt may run off into waterways from fields or construction sites, harming fish and wildlife habitat

Public health – The cost of handling water from the Great Lakes in Minnesota, for example , has increased by about $4.00 per 1,000 gallons due to algae blooms.
Tourism — Nearly $ 1 billion in revenue from tourism is lost per year. Bleaching of corals, algal blooms and polluted waters endanger local economies that earn billions from visitors who want to visit reefs or participate in aquatic activities.
Fisheries — Pollution and ocean acidification on America's West Coast is threatening the $100 billion shellfish industry. Over the past 40 years, coral bleaching has risen almost fivefold. The National Navy Fisheries Service estimates the economic importance of U.S. coral reef fisheries