What’s an Ecosystem Worth?

A lot of things found in and around the Great Lakes can be bought and sold – from drinking water to lakefront property. Still, some features of the lakes – like its ecosystem – are not for sale. The Great Lakes Radio Consortium’s Jim Meadows reports… a new study tries to measure the value of something many consider priceless:

Transcript

A lot of things found in and around the Great Lakes can be bought and sold, from drinking water to lakefront property. Still, some features of the lakes — like its ecosystem — are not for sale. The Great Lakes Consortium’s Jim Meadows reports a new study tries to measure the value of something many consider priceless.


The Lake Michigan Federation says there’s no commodity price for healthy fish and birds living around Lake Michigan — but that people are willing to pay to preserve them. A study prepared for the Federation at the University of Illinois at Chicago estimates how much people would pay — the so-called “natural capital” value of the southern Lake Michigan shoreline. Anna Cooper, who worked on the study, says their numbers could play a role in future decisions about the lake. Just one example she gives is the decision in Chicago to close a small airport along the lakeshore. Meigs would be closed, and the land used for other purposes.


“You know, if it could be shown that having that area as a natural preserve or changing it back into a wetland or something like that, if that could be shown to be basically cost-effective, that people … would value those species and that habitat more than they would value that land put to another use.”


The study estimates Chicago area residents are willing to pay 117 to 197 dollars per household to preserve the lakeshore ecosystem – for a total natural capital value of roughly three to five billion dollars per year, but it’s only an estimate. The Lake Michigan Federation’s Joel Brammeier says they couldn’t afford to do an actual survey of residents — so they extrapolated.


“In this study, we employed a technique called benefits transfer, which is the transferring of data from one study with a similar species and situation to a new region, in this case the Chicago region.”


Still, Brammeier says their study is a good conservative estimate of how much Chicagoans value the lakeshore ecosystem, and he believes other parts of the Great Lakes would also benefit from a valuation of their natural capital. For the Great Lakes Radio Consortium, I’m Jim Meadows.

Commentary – NAFTA Used to Sue Province

Late last month (October) Sun Belt Water of California filed a $10.5
billion suit against the Canadian government under the North American
Free Trade Agreement. The company claims that it has been mistreated
because the province of British Columbia banned the bulk exports of
water. As Great Lakes Radio Consortium commentator Suzanne Elston points
out, the outcome of the suit will probably cost us all a lot more than
money:

God Bless Michigan

Throughout North America, municipalities are struggling to find ways to
dispose of their trash. But as the Great Lakes Radio Consortium
commentator Suzanne Elston has discovered, there is one state that’s
actually welcoming its neighbors’ garbage:

Water Diversion Plan Dropped

An Ontario company has withdrawn its bid for a permit to sell Lake
Superior water to Asian countries. But, as the Great Lakes Radio
Consortium’s Mike Simonson reports, it probably won’t be the last time
someone will try to divert water from the Great Lakes:

Bee Keepers Struggle With Declining Markets

Its estimated that the U.S. honeybee industry generates about $8
million in annual revenue. But the industry has taken a serious
financial hit from a mite infestation. Honey bees are being killed and
honey production is down. You might think that would mean higher
prices for honey. But as the Great Lakes Radio Consortium’s Lester
Graham reports, the price of honey has actually gone down:

Appeals Made in Water Diversion Decision

A series of pre-hearing meetings have begun over an Ontario waterbottling company’s efforts to export Lake Superior water to Asia. TheGreat Lakes Radio Consortium’s Mike Simonson reports that the appeal isfacing an uphill battle: