Just Out of the Water

• Once snatched from its saltwater environment a lobster only has 48 hours to live in optimal storage conditions. To give lobsters the best opportunity of surviving a 48-hour storage period, air and moisture are necessary. A cardboard box lined with seaweed straight from the lobster's waters, or newspapers soaked with seawater, provide the best living arrangements for freshly caught lobster. Pop the open box in the refrigerator to keep the lobsters cool and the lining moist.

Oxygen Deprivation

• Like all living creatures, lobsters need to breathe to stay alive. Lobsters require a saltwater environment to thrive. Placing them in a bucket of tap water in an attempt to provide them with a watery storage environment ultimately causes them to suffocate and die. Storing lobsters in an airtight container or plastic bag filled with ice also robs them of much needed oxygen and within a matter of hours, they fall victim to suffocation and perish.

Alive and Kicking

• Always cook lobster within the 48-hour time frame while it is alive and kicking. Once the lobster dies, it is no longer safe to cook. Spoilage begins to set in rapidly after a lobster dies, putting you at risk of foodborne illness if you consume the cooked meat. Spoiled lobster also develops an unpleasant taste and odor, even when cooked. To determine if a lobster was fresh prior to cooking, examine the tail. If the tail curls under while alive, it remains curled under after death.

The Frozen Option

• If you are unable to fit the live lobsters into your meal plan within 48 hours, at least cook and freeze them so they don't go to waste. Bring a large pot of water to a boil and insert the lobsters head first. The average 1-pound lobster takes approximately 10 minutes to boil, with an additional minute -- give or take -- added for every additional quarter-pound up to two pounds. After boiling, cool the lobster under cold, running water, pat dry with a paper towel and store in a plastic freezer bag inside the freezer for up to a week.