Grand Banks, Newfoundland, Canada

Facts & Statistics
Place Name	Grand Banks
Place Status (Type)	plateau
Location	Newfoundland, Canada, North America
Latitude	47°00'N
Longitude	52°00'W

Grand Banks , submarine plateau rising from the continental shelf, c.36,000 sq mi/93,200 sq km, off SE N.F., Canada; c.300 mi/480 km long, c.400 mi/640 km wide; 47°00'N 52°00'W. Depths range from 20 to 100 fathoms. The cold Labrador Current flows over most of the banks; the warmer Gulf Stream sweeps along the E edge, sometimes crossing the S part. The Grand Banks are noted for the persistent dense fog (formed as warm air passes over cold water) that engulfs the area. The mingling of the 2 currents along with the shallowness of the water forms a favorable environment for plankton and other small sea life upon which cod, haddock, halibut, and other fish feed. Lobsters are also found here. Supplies have dwindled in recent years, however, leading to govt.-imposed limits on fishing. The Grand Banks were probably the world's most important internatl. fishing ground until 1977, when Canada extended its offshore jurisdiction to include most of the area. Until 1990s, the major concern was political. Canada declared a 200 mi/370 km exclusive zone that included most of the Grand Banks, in response to overfishing by foreign trawlers. It has extended a no-fishing moratorium beyond this limit and seized Eur. trawlers violating the moratorium. A large number of fishermen (50,000) and fish-processing workers lost their jobs as result of moratorium on fishing. A 14 mi/23 km territorial zone around the Fr. isls. of St. Pierre and Miquelon and a Fr. exclusive zone extending 186 mi/299 km SE from the isls., disputed by Canada, added to the problem. Reduced quotas failed to revive the fish stocks, lending to collapse of the cod industry in 1992-1993. Fog, icebergs, and the nearby transatlantic shipping lanes make fishing hazardous. Oil drilling began on the banks in the late 1970s but was slowed after the loss of the Ocean Ranger rig on Feb. 15, 1982. Continued exploration has brought a minor oil boom to Halifax and other parts (St. John's, N.F.); giant Hibernia oil and gas field on the banks. Earthquake and iceberg activity in the Banks pose potential ecological disaster.