Ballast water is an interesting discussion. On the one hand, I think we can say that one of the most untold success stories in recent years has been the ability to introduce effective controls for ballast water. You've probably heard from Dr. Ricciardi that the invasive numbers directly related to ballast water have gone down significantly since 2006. But as he and others in the field say, it's way too early to declare victory, because it takes time to identify invasive species. I think we've made some great inroads in mitigating the effect of that pathway. But I don't think anybody is in a position to declare victory. We need to still be vigilant of the potential that ballast water represents in terms of the introduction of damaging invasive species.
In terms of the regulations, the international regulations we look at are considered to be effective. Others argue that there need to be more effective regulations.
Part of the issue right now is that there really isn't much technology out there for enacting more stringent regulations. People will argue that this was the case in California when automotive emissions were put in place. There wasn't technology to realize the emissions called for in automobiles. It's a very different situation, of course, with the shipping industry. You're not talking about the same mass and volume, and so on and so forth.
There are various opinions on that. So it's more of a personal opinion I'm sharing with you, which is that in light of the technology that exists right now, that international standard is effective. Taken into consideration, with the control mechanisms happening in the port of Montreal right now, we have a much better situation than we did in the past.
That said, though, I would hope that by not having more stringent regulations, we don't stop the pursuit of greater technology that would provide an even greater guarantee or greater comfort that we would stop the introduction of invasives through ballast water, because we've seen the cost of them over the years.
One of the statistics that stands out in my mind, from research done in 2001, is that the cost of biological invasions globally was $1.4 trillion, in 2001 dollars. In 2009, a study was done on the cost of the destruction by natural disasters, and it was $190 billion. That was eight years after the study on invasive species. It was $190 billion versus $1.4 trillion. I think the economic cost of invasive species is not a very well-known fact. We only hear about it when we have an issue like the Asian carp, but the opportunity costs and the cost to taxpayers every day is incredibly substantial.