The Baleen Whales’ Saving Grace: The Introduction of Petroleum Based Products in the Market and Its Impact on the Whaling Industry

• Main Authors: John McCollough, Henry F. Check
• Format: Article in Journal/Newspaper
• Language: unknown
• Subjects: baleen whale; baleen whales
• Online Access: https://www.mdpi.com/2071-1050/2/10/3142/pdf; https://www.mdpi.com/2071-1050/2/10/3142/

This paper presents empirical evidence which indicates that the introduction of petroleum based products on the American markets was a significant factor in reducing the demand for whale oil. As a result, the whaling industry, America’s 5th largest industry at the time, soon collapsed. A counterfactual study is then presented which suggests that if the introduction of petroleum based products had been delayed, then the increase in demand as a result of rising GDP per capita, as well as rapid industrialization, would have given whalers incentive to continue chasing after a diminishing whale population. This could have resulted in the baleen whale population being subject to unsustainable harvest levels. sustainable yield; whaling; sperm whales; baleen whales