The Magnuson-Stevens Act, which governs fishing in federal waters, has set hard targets for rebuilding depleted fish stocks by 2014. But a fall survey, conducted by the Northeast Fisheries Science Center, shows cod on the verge of collapse and warned that fish stock rebuilding targets would not be met even if the entire fishery was shut down today.

The news sent shock waves through fishing circles, although New Bedford draggers, which catch their cod offshore on Georges Bank, are less threatened by the findings.

But the survey results were greeted with disbelief by fishermen who operate in waters that extend from Cape Cod to Downeast Maine. Fishermen say they are catching a lot of cod and see plenty of evidence of stock abundance. They also want some answers, since the situation poses a threat to their livelihood and the findings are in stark contrast to an optimistic stock assessment produced by the previous survey in 2008.

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