Humboldt Squid are a different story......
On our trips we hold the animals so people can observe them close up. It is the only safe way to get close to them and to get macro shots. Alot of times there will be free swimming squid around the customers but those shots are harder to get. the animals rarely ink when restrained and stay around when let go (still dont know why).
All customers wear full body dive armor (like wearing a shark cage) so the animals can get close but the customers are protected. they are also cabled to the boat.
After the customers get a shot of the animal of the deep, we let them go. The alternative for the squid is to be caught and hacked into pieces and sold. We hire the local help and it helps keep them from harvesting squid. If they catch a squid, I grab it off of the line before they get it to the surface. We photograph it, log in the data of the animal, and release it.
If you can get the shot and info and not touch the animal at all that is the best way, but sometimes I believe you can interact with nature and not harm it, and actualy help the situation out.
I think one of the reason that people like sharks so much is because divers got to swim with them in cages or otherwise after they were baited in. they learned that sharks are not just killers they are cool.
If you wanted to show your kid how cool a lizard was and show him that it was not something to kill, you could catch one and show him or her the beauty of the animal and tell them that killing them is a bad thing to do. then to demonstrate, you release the animal. I know we are not children, however sometimes it is nice to be able to see the up close beauty of the seas creatures. I believe there is interaction possible on some animals and not others.
In my opinion, an octupuss will come out of its cave to check you out anyway as long as you dont try and touch it. It you will try and touch it it WILL take off.
You can get those shots all day, other animals are not so easy.
GTB
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