Business Briefs – June 27, 2016

Fading Fishermen: A Historic Industry Faces a Warming World

SEABROOK, N.H. (AP) – One of America’s oldest commercial industries, fishing along the coast of the Northeast still employs hundreds. But those numbers are falling quickly. After centuries of weathering overfishing, pollution, foreign competition and increasing government regulation, climate change appears to be doing them in.

As waters have warmed, fish populations have struggled and the U.S. fishing fleet from more than 120,000 vessels in 1996 to about 75,000 today.

TransCanada Seeks $15B for Rejection of Keystone Pipeline

LINCOLN, Neb. (AP) – The company that proposed the Keystone XL pipeline is seeking $15 billion in damages from the federal government after the Obama administration rejected the Canada-to-Texas project, a company spokesman said Monday.

TransCanada Inc. filed a request for arbitration Friday under the North American Free Trade Agreement, arguing that the State Department’s actions led the company to believe the project would win approval. Obama rejected a federal permit for the project in November, saying it would have undercut the nation’s reputation as a global leader on addressing climate change.