Alas, we can look forward to a new round of Law of the Sea negotiations the results of which will ultimately make the Enclosure Acts look like a kindergarten picnic.
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An excellent point.
For those who aren't familiar with the Enclosure Acts, I suggest this Wikipedia article:
<http://en.wikipedia.org/wiki/Inclosure_Act>
By mentioning enclosure, you bring up the kinds of social impacts and political power issues most environmentalists and 'green' enthusiasts -- who typically have no critique of capitalism besides saying that corporations are bad and small, "sustainable" efforts are good -- fail to take into account.
Because of course, if algae production is successfully scaled up, this new industry will operate within already existing profit and 'intellectual property' schemes. Which means that the seas -- the most likely sites of massive cultivation and harvesting -- will be 'enclosed' to protect 'shareholder value' and exclusive access to the best areas.
It's easy to foresee an Exxon-Bio, or somesuch, picking up where its hydrocarbon predecessor left off.
.d.