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For Immediate Release
August, 27 2009, 12:00am EDT
Contact:
Ben Bowman, (202) 683-2443, bbowman@fwwatch.org
Erica Schuetz, (202) 683-4903, eschuetz@fwwatch.org
Obama Administration Approves Harmful Privatization Plan for Managing Mid-Atlantic Fishery
Statement of Food & Water Watch Executive Director Wenonah Hauter
WASHINGTON
"Yesterday, the National Oceanic and Atmospheric Administration approved an unfair and potentially destructive plan for managing the tilefish fishery of the mid-Atlantic region, known as 'Individual Fishing Quotas' or 'catch shares.' Tilefish is a common finfish of the region, and the fishery is predicted to be a $10 million industry when rebuilt. Under this plan, only fishermen who are awarded "shares" by the management council--in this case, the Mid-Atlantic Fishery Management Council--are allowed to fish, while large numbers of fishermen are pushed out of their jobs. The plan determines how much quota share a fisherman receives based on the quantities he has caught in the past, thus inherently favoring bigger players and squeezing out many smaller-scale and historic fishermen. This plan also essentially privatizes the resource, ensuring that all the profit gained from its use benefits only a few, despite that oceans and fish resources are to be held in public trust for the benefit of all.
"The plan also includes a 49 percent accumulation cap, meaning that one fisherman or fishing company may have exclusive access to as much as 49 percent of all the fish under this plan--and as few as three companies could control the entire fishery. This could amount to a near-monopoly. In 2007, then U.S. House Representative Jim Saxton (R-N.J. 3) raised concerns over this control issue with the U.S. Department of Justice's Antitrust Division.
"Further, while this plan is billed as necessary for conservation, it is entirely about economics. Catch share plans do not eliminate environmental problems such as overfishing, and may even exacerbate them. The plan places the resources in the hands of a small number of people--and in the process, eliminates large numbers of jobs. Food & Water Watch opposes this plan and the privatization of publicly held resources, and supports community-based fishery management solutions that work to balance economic, environmental and social concerns by keeping the public in control of public resources."
Food & Water Watch mobilizes regular people to build political power to move bold and uncompromised solutions to the most pressing food, water, and climate problems of our time. We work to protect people's health, communities, and democracy from the growing destructive power of the most powerful economic interests.
(202) 683-2500LATEST NEWS
'Opportunistic' Fossil Fuel Execs Cashed In on Trump's Iran War With Record Stock Sales
One climate reporter warned their windfalls "will go toward political campaigns and lobbying organizations dedicated to fighting climate regulation, blocking clean energy policy, and fueling authoritarianism."
Apr 08, 2026
After pouring money into President Donald Trump's successful campaign to take back the White House, US fossil fuel industry executives cashed in on his and Israel's war on Iran with record-setting stock sales, according to a VerityData analysis reported on Wednesday by The Wall Street Journal.
"Much of the selling for the first quarter began before the US and Israel began bombing Iran on February 28," and some "were prearranged under plans that allow executives to sell stock automatically at specific times or share prices without making in-the-moment decisions that could leave them open to allegations of improper trading," the newspaper acknowledged.
However, as share prices for the industry skyrocketed—Iran responded to the US-Israeli assault by shutting down the Strait of Hormuz, a key trade route for fossil fuels—executives at Chevron, ConocoPhillips, Diamondback Energy, and other oil and gas companies collectively sold $1.4 billion in stock.
"At nearly a dozen companies, the number of executives selling in the quarter reached or surpassed 10-year records, and in some cases set all-time records," the Journal detailed. "The sales hit a 15-year peak, with nearly six executives selling for every one that bought shares in the first quarter—well over double the usual ratio."
"CEOs stood out as big sellers in many cases," the newspaper highlighted, noting that "Chevron chief executive Mike Wirth sold some $104 million worth of shares between January and March. ConocoPhillips's Ryan Lance netted about $54.3 million in share sales in March alone. Lorenzo Simonelli, CEO of oil field services company Baker Hughes, sold about $33 million worth of stock that same month."
VerityData's head of research, Ben Silverman, said that "it speaks to the opportunistic behavior of everyone involved—it could be opportunistic set months earlier, it could be opportunistic in the moment... There was a breathlessness to the selling, and the message they sent was to cash in now because the ride won't last forever."
Who's profiting from ridiculous and unnecessary wars? Big Oil CEOs, to name one obvious group. @emorwee.bsky.social heated.world/p/chevrons-c...
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— Ross Macfarlane (@rossmacfarlane.bsky.social) April 8, 2026 at 5:04 PM
In her Heated newsletter, climate journalist Emily Atkin pointed out that "this isn't the first time a small group of extraordinarily wealthy oil CEOs used a war to make themselves richer. In the weeks after President Joe Biden said that he was 'convinced' Russia would invade Ukraine in 2022, Big Oil CEOs sold almost $99 million worth of shares, according to an analysis by Friends of the Earth and BailoutWatch."
According to Atkin:
What really makes this story remarkable is not simply that oil executives got rich from a war. It's how perfectly legal and normal it all is, and what that legality reveals about who wins and who loses when America goes to war.
When America goes to war, the costs are distributed broadly, onto every American who drives a car or heats a home. The benefits are distributed narrowly, flowing to a small group of men whose compensation is designed to capture exactly this kind of windfall.
And the cash windfall these oil executives make from the war won't go primarily toward yachts and private jets (they already have those). It will go toward political campaigns and lobbying organizations dedicated to fighting climate regulation, blocking clean energy policy, and fueling authoritarianism.
The Journal reporting came on the heels of Trump and Iran agreeing to a fragile two-week ceasefire negotiated by Pakistan late Tuesday. While Israel is supposedly on board, it escalated attacks on Lebanon on Wednesday.
As a Pakistani official publicly reiterated that Lebanon is still part of the deal and Iran threatened to back out altogether, Janet Abou-Elias, a researcher with the Democratizing Foreign Policy program at the Quincy Institute for Responsible Statecraft, told Common Dreams that Israel's assault "appeared to be a direct attempt to blow up the ceasefire, and it worked."
Meanwhile, although oil prices dropped after the ceasefire announcement, "'fossilflation'—or inflation caused by volatile and rising prices of oil and gas—is still likely to continue," the global climate group 350.org warned on Wednesday.
"Even if the Strait of Hormuz reopens and the ceasefire holds, oil and gas prices will stay above pre-war levels, and consumers will pay," said Andreas Sieber, 350.org's head of political strategy. "Volatility remains high, and supply will stay tight due to infrastructure damage and inventory rebuilding."
The group said last week that the war-related spikes in oil and gas prices "have already cost consumers and businesses an additional $104.2-$111.6 billion" globally, and an analysis from Democratic members of the congressional Joint Economic Committee found that Americans spent an extra $8.4 billion at the gasoline pump during the first month of Trump's war.
Throughout the conflict, 350.org and other green groups have advocated for a windfall profits tax targeting oil and gas giants, as well as renewed calls for a swift and just international transition away from climate-wrecking fossil fuels.
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Pakistan Reiterates That Lebanon Is Still Part of Ceasefire Despite Israel's Attacks
A foreign policy expert told Common Dreams that Israel’s unprecedented attack on Lebanon, backed by the US, “appeared to be a direct attempt to blow up the ceasefire, and it worked.”
Apr 08, 2026
A Pakistani official said Wednesday that despite Israel’s unprecedented attack on Lebanon, it is still part of the ceasefire agreement that Pakistan's prime minister helped to mediate the previous day, even as Israel and the US insist otherwise.
Pakistani Prime Minister Shehbaz Sharif, who played a key role in brokering the deal announced on Tuesday, said that "Iran and the United States of America, along with their allies, have agreed to an immediate ceasefire everywhere, including Lebanon and elsewhere, EFFECTIVE IMMEDIATELY.”
But within hours of the agreement, Israel launched what it said was its largest military operation against Lebanon yet, which killed at least 254 people and wounded 1,165 others, according to the Lebanese Health Ministry. The Israel Defense Forces acknowledged that the assault included attacks on many civilian areas.
Contrary to the mediators, Israeli Prime Minister Benjamin Netanyahu declared that the ceasefire "does not include Lebanon.” White House Press Secretary Karoline Leavitt followed suit, confirming that the US's position was also that “Lebanon is not part of the ceasefire,” adding that “that has been relayed to all parties involved."
But Pakistan's ambassador to the US, Rizwan Saeed Sheikh, said on Wednesday afternoon that this was not the agreement the parties reached on Tuesday.
He told CNN anchor Becky Anderson that the deal announced by his prime minister, which included Lebanon, "could not have been more authentic" to what the two parties agreed to, and that it was still the prime minister's understanding that Lebanon was included.
He added that this was another instance in which a ceasefire "could be disrupted" by Israel's actions. He also noted that "there have been instances in the past where ceasefires have been disrupted," a possible reference to Israel's routine violations of its previous ceasefire with Lebanon and the current one with Gaza, and its repeated assassinations of Iranian negotiators as they've sat down for talks with the US.
The US-Iran ceasefire is less than 24 hours old, but Israel's attack on Wednesday has already thrown it into peril. Iran responded to the attacks on Wednesday by once again closing the Strait of Hormuz after briefly reopening the critical waterway in accordance with the deal. Iran is also reportedly considering withdrawing from the ceasefire altogether and resuming strikes against Israel.
President Donald Trump has appeared eager to declare victory and move on from the war, which has further tanked his already plummeting support at home and sparked a global economic crisis.
But Janet Abou-Elias, a researcher with the Democratizing Foreign Policy program at the Quincy Institute for Responsible Statecraft, told Common Dreams that Israel's goals are very different.
She explained that Israel was largely sidelined from the talks that culminated in Tuesday's ceasefire and that within Israel's internal politics, the agreement is being portrayed as "catastrophic."
She noted that Yair Lapid, the leader of the opposition to Netanyahu's government, has portrayed it as “the worst political failure in our history,” and accused the prime minister of failing to achieve his goals.
"What we’ve seen since looks like Israel acting to undermine a diplomatic process over which it had lost influence," Abou-Elias said.
She said that Israel's attack on Lebanon on Wednesday, which it has referred to as Operation Eternal Darkness, "appeared to be a direct attempt to blow up the ceasefire, and it worked."
According to the Human Rights Activists News Agency, a US-based human rights monitor for Iran, at least 1,701 civilians have been killed in US-Israeli attacks against Iran since the war was launched on February 28.
After Wednesday's bombardment, Lebanon's Health Ministry reported that the death toll in the country was now up to at least 1,739 since the war began on March 2.
"At this point, any durable end to this conflict, even a temporary one, requires Washington to rein in Israel," Abou-Elias said. "Trump has the leverage to do it. What’s unclear is whether he has the political will to use it."
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2.5 Million Poor Americans Have Lost Food Aid Since Trump Signed GOP's Big Ugly Bill Into Law
"No family should have to worry about putting food on the table, but congressional Republicans have made sure that millions will," said one critic of the GOP's budget law.
Apr 08, 2026
An analysis published Wednesday by the Center for Budget and Policy Priorities found that millions of low-income Americans have stopped participating in the Supplemental Nutrition Assistance Program ever since President Donald Trump signed the One Big Beautiful Bill Act into law last year.
According to CBPP's analysis, SNAP participation declined by 6% between July 2025 and December 2025, with 2.5 million fewer Americans receiving benefits.
CBPP estimated that millions more will be dropped from SNAP benefits in the coming months as states adjust their budgets to remain in compliance with the law.
"Starting in 2027, most states will have to pay between 5% and 15% of SNAP benefit costs, totaling hundreds of millions of dollars a year in many states," explained CBPP. "The magnitude of the cost shift... may incentivize states to take drastic measures to reduce their payment error rates quickly and cut program costs, even if it means delaying or improperly denying benefits to eligible people."
In total, concluded CBPP, "we estimate that 4 million people in a typical month will lose out" on SNAP benefits "once the changes are fully implemented."
CBPP published a separate analysis focusing specifically on Arizona, where SNAP participation has already fallen "far more than anticipated," while warning that other states could soon see similarly steep participation drops as they rush to comply with the law.
The GOP budget law contained roughly $186 billion in cuts to SNAP over the span of a decade, which came from expanding work requirements, shifting some of the cost of the program to the states, and restricting benefit increases. As a result, millions of Americans became vulnerable to losing their benefits.
Leor Tal, campaign director at Unrig Our Economy, pointed to CBPP's analysis as an example of the GOP waging class warfare on behalf of rich donors.
“SNAP is a lifeline for working Americans nationwide," Tal said. "Now, that lifeline is being ripped away from millions because Republicans in Congress decided that giving tax breaks to billionaires and waging war are more important than protecting food for families. No family should have to worry about putting food on the table, but congressional Republicans have made sure that millions will.”
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