The Lobster Bubble: Maine’s Lobster Boom, and Why Experts Predict a Dramatic Bust

“Anything above 20º C is extremely stressful for lobsters,” explained Bob Steneck, Professor of Marine Sciences at the University of Maine.  “While warmer waters off the coast of Maine in recent years have probably aided the boom in lobster numbers, putting us right in the temperature sweet spot for this species, we’re getting closer and closer to that point where the temperature is just too stressful for them, their immune system is compromised, and it’s all over.”

If this leads to a crash in the Maine lobster industry, experts agree it would almost inevitably lead to irreversible gentrification of Maine’s coast.  While the going has been good, lobstermen have invested in bigger boats and more equipment to take advantage of the record lobster numbers.  Much of this gear is owned by the bank. It’s a bit like the housing bubble, and if the lobsters go, lobstermen won’t be able to make their payments and the bank will have a glut of lobster boats.

The Lobster Bubble: Maine’s Lobster Boom, and Why Experts Predict a Dramatic Bust