The correct answer is option 2: "There will be no North-West Atlantic fishing grounds."

The Cold Labrador Current is a cold ocean current that flows southward along the coast of Labrador and into the North Atlantic Ocean. This current brings nutrient-rich waters from the Arctic and creates a favorable environment for the growth of phytoplankton, which serves as the base of the marine food chain. The presence of the Cold Labrador Current creates ideal conditions for fish populations in the North-West Atlantic, particularly in areas such as the Grand Banks off the coast of Newfoundland.

If the Cold Labrador Current were absent, the nutrient-rich waters would not be present in the North-West Atlantic. As a result, the food chain in this region would be disrupted, leading to a decline in fish populations. Without the presence of these fish, there would be no North-West Atlantic fishing grounds for fishermen to catch fish commercially.

Therefore, option 2 is the correct answer as it correctly states that the absence of the Cold Labrador Current would result in the loss of North-West Atlantic fishing grounds.