The Graphic Truth: Lobsters are heading north

Line graph of lobsters caught in of the coast of New England and Canada
Line graph of lobsters caught in of the coast of New England and Canada
Luisa Vieira

It has been impossible to ignore climate change this summer. July was the hottest month on record, there have been unprecedentedly destructive wildfires and floods across Canada, and water temperatures in the southern United States are skyrocketing. But ocean temperatures further north are also on the rise. The Gulf of Maine, which stretches from Cape Cod to Nova Scotia, is one of the fastest-warming ocean territories on the planet, and that is bad news for the US lobster industry.

Lobsters are very sensitive to rising temperatures, causing the North Atlantic population to move north over the last 50 years in search of chillier waters. Initially, this northward trend benefitted coastal Maine as lobsters fled Rhode Island and Massachusetts. But even Maine’s lobster catch has been steadily declining to Canada’s benefit. Canada’s lobster industry is experiencing a boom, achieving record profits in 2022.

We examine the effect of this northward shift in lobsters by looking at the amount of lobsters caught in New England and Canada over the last 22 years.

More from GZERO Media

Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland gestures during a press conference before delivering the fall economic update in Ottawa, Canada, November 21, 2023.
REUTERS/Blair Gable/File Photo

Canada’s finance minister and deputy prime minister, Chrystia Freeland, resigned from cabinet Monday morning over differences with Prime Minister Justin Trudeau on how Canada should deal with incoming US President Donald Trump.

This footage, published Sunday (29May2022) shows the Frigate Admiral of the Fleet of the Soviet Union Gorshkov conducts a test firing of Zircon hypersonic cruise missile in the Barents Sea. According to the Russian Ministry of Defence, the test firing hit a target in the White Sea. It was part of a test of new Russian weapons. Russian officials claimed the missile successfully hit a sea target located at a distance of about 1,000 km. Where: Russian Federation
Credit: Ministry of Defence of the Russian Federation/Cover Images via Reuteers

On Monday, Russia’s President Vladimir Putin warned that he might lift self-imposed restrictions on Russia’s development of short- and medium-range missiles, while warning that the West was pushing on “a red line we can’t step back from.”

French Gendarmerie forces cross a damaged area in the aftermath of Cyclone Chido, in Mayotte, France December 15, 2024.
Gendarmerie Nationale/Handout via REUTERS

France rushed aid to Mayotte on Monday, with death estimates running into the thousands after the most powerful cyclone in nearly a century devastated the small Indian Ocean island overnight.

As the macro landscape evolves and new market dynamics emerge, corporations and investors must understand the trends driving capital allocation, sector shifts, and emerging opportunities to position themselves for success. While there is growing optimism in the market, critical questions persist about geopolitical risks, the impact of tariffs and trade policies, the long-term outlook for the USD, and how to interpret the economic narratives and structural changes likely to shape the immediate future. Get insights from RBC Capital Markets experts on the economy, markets, and deal activity.