How did the 1970s oil crisis affect fuel-intensive fishing vessels?

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A worker in dark clothing inspects large frozen tuna lined up on the floor at Tsukiji fish market in Tokyo, Japan, using a tool to check the fish. — commercial fishing Worker in the Tsukiji fish market, Tokyo.

The 1970s oil crisis significantly impacted the commercial fishing industry by causing fuel costs to surge by as much as 400 percent, while the market price for fish increased by only about 80 percent.1

This economic disparity placed immense pressure on fuel-intensive operations, forcing many fuel-inefficient vessels—such as numerous U.S. Gulf shrimp trawlers—to either cease operations or transition into different fisheries. In response to these challenging conditions, the industry began prioritizing the development of more fuel-efficient vessels, engines, and fishing methods, including the exploration of modern sail technology, with the pace of these innovations remaining dependent on the fluctuating price of oil.1