The Stock Market Plummets. But the Real Basis of Value Remains The Same.

The stock market this afternoon was drooping like a daffodil in an August heat wave. People fretted that our country might be grinding backwards into a double-dip recession.

At times like this, environmentalism is often attacked. The claim is often made that we can’t afford to impose new pollution control regulations during tough times like these.  The anti-environmentalists frequently assert that we need to de-regulate to allow the economic engines to run freely and pump out jobs, jobs, jobs.

This is the truth... upside down. A recent article by Carrie Madren in the Bay Journal News Service makes a convincing case that tourism is one of the most important industries for Chesapeake Bay region states, and beautiful scenery, healthy swimming beaches, and abundant fish and wildlife are the lifeblood of our tourism economy.

I would go even further.  Nobody wants to relocate, create, or expand a businesses in a location that’s ugly, depressing and unhealthy.  As any home seller knows, the aesthetics and cleanliness of a neighborhood are key to real estate prices.  Polluters kill not only fish and birds.  They suppress the quality of life that all of us humans enjoy, and thus rob us of the economic value of our homes, businesses and communities.

Here are some telling facts from Madren’s article about the power of the tourism economy in our region, and the strong connection to a clean environment:

* In 2008, Maryland hosted more than 28 million visitors who spent nearly $14.5 billion on travel-related expenses, including charter fishing, hunting, hiking and camping as well as meals made up of Maryland-harvested seafood. According to the Department of Natural Resources, the annual value of tourism and commercial activities related to the Chesapeake Bay exceeds $31.6 billion.

* Virginia tourism generates some $19.2 billion in visitor spending annually, and also has a robust seafood industry in addition to fishing, camping and other outdoor activities.

* Pennsylvania’s tourism industry generates about $25 billion a year and like other Mid-Atlantic states.

This is no small change.  This revenue is a major part of our region’s health, and it doesn’t even take into account the intangible value of our mental and spiritual  health and how that is lifted up by a clean Chesapeake Bay and green landscape.

So when the stock market falls, it is not time for environmentalists to flinch or run for cover.  It is time for all of us to stand up for the long-term viability of our economy, which can only be achieved through robust environmental protections.

By Tom Pelton

Chesapeake Bay Foundation

Comments

[Facebook responses]

Here are some of the responses this Bay Daily article got on CBF's Facebook site:

* Ben Dows: its genius! forget a healthy future! we want money now!

* Paul Danaher: No, no, no! This country is lagging far behind Europe and Asia in environmental protection and technology, and the answer to recovering some of the lost ground is to invest in and consume the new technology, not to subsidise polluting technologies!

* Lynne R. Munden Frailing: Lets cut the practice of using pesticides and over fertilizing and not caring about our environment that is our gift to future generations. IT is a perfect time for each of us to be cautious and spend wisely and not destroy our beautiful Chesapeake Bay.

* Jason Hagy: Let the stock market crash. It is the big industry that is destroying our environment. I walk to work and buy local produce from local farmers. I think we all would be better off if the big industry and big government fail.

* Paul Danaher: If both big industry and big government fail, that leaves us sitting in the rubble, with nobody to clean up. We certainly don't have the expertise and resources to do so, and the only way I can see is to pressure government (it's like steering a giant oil tanker, but it can be done) to force big business to behave.

* Polly Milliner Ransone: I think that is a bunch of crap coming from a bunch of pollution supporters.

* Tim Reyburn: A clean environment is not to be taken for granted. Many businesses depend on it. Heck, all business depend on it. Oxygen, clean dihydrogen Oxide and no man made carcinogens are reasonable goals and expectations. Mindless dumping of pollution into both the air and water mediums and hoping that dilution and sending down stream is not logical.
Ignorance is no longer an excuse.
Polluting is a cost saving measure now.
Has to stop and Zero emissions the goal.
See More

* Rob Martin: I don't support the pro pollution party....

* Daniel Scott: Why is CBF writing about this?

* Kevin Reed: We need to change how we measure things like profit/loss and GDP to include biodiversity and environmental status. When a company or whoever pollutes, we pay for it someplace else, either in healthcare, cleanup, lost fish harvest, lost recr...eation dollars, and overall in lost environmental quality. Plus, companies that look to true sustainable operations end up making more money and being more secure than those copanies that do not. Confessions of a Radical Industrialist by Ray Anderson lays it all out, as his company leads his market, influences companies like Walmart, and works towards zero emmissions, full recycling, and 100% sustainability by 2020. A bad economy is the perfect time to talk about it.

* Scott Schelle: I don't agree that environmental regulation should be turn down due to a sick economy, the system has already adjusted and incorporated those costs, but I could see delaying the implementation of new regulation, the legislation could contin...ue, just holding off on the on the ground start date, as a means of giving the economy a chance to get back on its feet.

No need to move backward IMHO.

* Susan Haas: to be sustainable for long-term health we must balance environmental, economic and social factors.

[bonnie bick]

I feel ecological economics is the answer. If we were to factor in the true value of clean water and clean air, many of our decisions would be made differently. For example, we see the cost of the loss of our forests and wetlands totally ignored as land use and transportation decisions are made supporting economic gain for the few and the long term loss in the present and the future suffered by the many .

[Forex Brokers]

IN my opinion a cleaner environment will only cut back expenses such ass electricity and pollution management, and will raise the value of the properties in the area. It would be a mistake to think otherwise. Very good article!

[stock market today]

The article written by you very good, I like it very much. I will keep your new article.

[option poppers]

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[Free Content Directory]

I really enjoy your articles. Very well written. I look forward to reading more. Thanks for share with us. Take care!

[Hermes Kelly]

Those are super cute. I like you on Facebook.