Tags: treaty | arctic

Treaty Could Bring U.S. Undersea Riches

Sunday, 16 Sep 2007 08:38 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The justification for U.S. ratification of the Law of the Sea treaty is simple: trillions of dollars of undersea mineral wealth just waiting to be exploited.

The United States stands to gain nearly 300,000 square miles of additional ocean holdings, including an estimated 400 billion barrels of untapped undersea oil and gas, experts say.

That's because the treaty allows countries to extend their claims beyond the current 200-mile limit, if they can demonstrate the continuity of their continental shelf.

The result could make the 1849 Gold Rush and the Texas oil boom seem trivial by comparison. Not surprisingly, U.S. oil and gas companies support ratification.

To gain control over those vast new expanses of ocean, however, the United States must submit extensive map information about the ocean floor and other data to international authorities for review.

U.S. scientists are already busy in the Arctic gathering the requisite data aboard the Coast Guard icebreaker Healy, which is mapping the ocean floor to support U.S. claims if the treaty is ratified.

Newsmax reached chief expedition scientist Larry Mayer aboard the Healy. Although Mayer isn't taking sides on the politics of the treaty, he speaks enthusiastically about the potential windfall.

"I will say that the seafloor beneath the oceans has tremendous potential with respect to resources," he tells Newsmax.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Mitch McConnell: I'll Rein in Obama Spending After Midterms

Wednesday, 20 Aug 2014 08:51 AM

Senate Minority Leader Mitch McConnell plans to issue a policy ultimatum to President Barack Obama if the GOP takes over . . .

Texas Gov. Perry Booked on Abuse of Power Charges

Tuesday, 19 Aug 2014 18:56 PM

Texas Gov. Rick Perry was defiant Tuesday as he was booked on abuse of power charges, saying he would fight this injust . . .

Afghanistan Gives NYT Reporter 24 Hours to Leave Country

Wednesday, 20 Aug 2014 07:51 AM

Afghanistan has given a New York Times reporter 24 hours to leave the country, accusing him of not cooperating with an i . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved