Jon Williams is hoping President Obama will think twice before establishing a National Marine Monument off the New England coast in waters where his five boats fish for Atlantic red crab.

“It’s very scary,” said Williams, owner of New Bedford’s Atlantic Red Crab Co. that employs nearly 150 people.

Should the New England Coral Canyons and Seamounts Area be named a national monument, Williams said he would be cut off from fishing grounds that account for between 20 and 40 percent of his red crab haul – an annual loss of around $5 million.

“We have to fish these areas. That’s where the red crab live – at these depths,” he said.

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