Ocean economy

Since grade school, we were taught that the ocean is a “huge body of saltwater that covers about 71 percent of Earth’s surface.” That “about 97 percent of the world’s water is found in the ocean.”

Though traditionally, oceanographers divided this one global ocean into four (Pacific, Atlantic, Indian and Arctic), starting the 20th century, they’ve added (as the fifth) “the seas around Antartica the Southern Ocean. Reportedly, just this year, National Geographic officially recognized it too. 

Due to its size, it has a huge impact on weather. Notably too, it has a huge influence in our food supply (and pollution is acknowledged as a continuing threat). Needless to say, as the 2021 United Nations Climate Change Conference in Glasgow, Scotland continues, it is a consensus among participants that its effect on global warming cannot be ignored.

Remarkably too, oceanographers (according to National Geographic) are one in saying that “more than 80 percent of the ocean has never been mapped, explored, or even seen by humans.” Yes, despite its impact on us and every other living organisms in this planet, its depth remains a mystery.  And, probably, in our lifetime or even in that of our future generations, it will remain that way.     

Undeniably, though it might remain a mystery, its potential is a certainty. Its resources are now viewed as central in our efforts to address the multitude of challenges that humanity is expected to face in the coming decades.  For one, pundits projected that by 2050, “the world’s population shall be at least 9 billion.” With such size, the demands for food, jobs, energy, raw materials and economic growth will be enormous. Certainly, the massiveness of the ocean (both the surface as well as its resources down deep) has the potential to help meet these requirements. Collectively, these potentials and those that we’ve already enjoyed now is called the ocean economy.

The Organization for Economic Co-operation and Development (OECD) defines ocean economy as the “the sum of the economic activities of ocean-based industries, together with the assets, goods and services of marine ecosystems.”

This include among others, “marine fishing and aquaculture, coastal and marine tourism, extractive industries (e.g. oil and gas, sea-bed mining), transport and logistics industries (freight and passenger transport), shipbuilding industries, renewable energy and marine biotechnologies.”

OECD projected that the “value added generated by ocean based industry globally could double in size from US$ 1.5 trillion in global value added in 2010 (the base year) to US$ 3 trillion in 2030.”   As observed, there is a noticeable increase in economic activity in the ocean. It is a combination of the “briskly expanding ocean industries and expectations of moderate growth in already large industries like maritime and coastal tourism, offshore oil and gas, shipbuilding and maritime equipment.” 

Some ocean industries though are expected to grow faster than the world economy. OECD singled out “marine aquaculture, capture fisheries, fish processing, offshore wind, and port activities.” Consequently, “employment in ocean-based industries as a whole is also set to more than double by 2030 (over 40 million).” Notably, “above-average job growth is expected in almost all the sectors included in the study, with especially rapid employment growth occurring for example in marine aquaculture, fish processing, offshore wind and port activities.”

As an island nation, we can also tap our own side of the ocean. The potential is unlimited.  However, one of our biggest hindrances is pollution. We need not go that far. Tañon Strait (supposedly, a protected area) has huge potential. Sadly though, the City of Bais and the Municipality of Manjuyod have a deleterious concern to address. An ethanol plant right at the boundary of the City of Bais and the Municipality of Manjuyod is freely releasing its black and muddy liquid waste into the Bais North Bay.  This pollutant has turned the sand a tad brown and the seawater a bit murky along the shoreline and in several islets in the area. Consequently, the poor fishermen were badly affected. Their livelihoods were severely diminished.  

Agreeably though, factories in the countryside are providing livelihood to the rural folks.  Obviously, it prevents rural exodus.  However, we can’t just simply provide wages to a few and kill the livelihood of the rest. There must be some ways to create a win-win situation. Remember, even amid this pandemic, the Manjuyod Sandbar, which is just a few kilometers away, is drawing tourists. With such popularity, tourism in this part of the province can flourish. And those who are in dire straits can find some sources of livelihood (just like the fishermen of Oslob) in this industry.