Georgian Bay shoreline (Credit: Derek Hatfield, via Flickr)
A report released by the Mowat Centre and the Council of the Great Lakes Region finds that lower water levels in the Great Lakes could cost the Canadian economy $10 billion over the next 15 years, according to The Barrie Examiner. The report was funded by the Ontario Government and Georgian Bay Forever, an environmental group.
Considering the worst consequences of lower water levels, the report forecasts losses in commercial shipping, tourism and hydroelectric generation. Declines in waterfront property value are also predicted.
The largest impacts are likely to be felt in the recreational boating and fishing sector, and report authors predict losses to the tune of $6.65 billion through 2030. Property value decreases, expected to be most extreme on the shores of Lake Huron, are forecasted to go down by $800 million in the same time period.
Image: Georgian Bay shoreline (Credit: Derek Hatfield, via Flickr)