Obama will create first marine national monument in Atlantic

WASHINGTON (AP) — President Barack Obama will establish on Thursday the first national marine monument in the Atlantic, a move that's designed to permanently protect nearly 5,000 square miles of underwater canyons and mountains off the coast of New England.

The White House said the designation will lead to a ban on commercial fishing, mining and drilling, though a 7-year exception will occur for the lobster and red crab industries.

[...] many in the fishing industry worry Obama's actions will make it harder for them to earn a living.

White House officials said the administration listened to the concerns of the industry and pointed out that the monument is smaller than originally proposed and contains a transition period for companies like the one Williams runs.

In a memo about the merits of the monument the Natural Resources Defense Council said that the canyons and seamounts within the monument are some of the least fished areas in the U.S. Atlantic, which is a key reason it was chosen for possible monument designation.