"Thomas Bowden has an opinion piece in the Wall Street Journal that crushes the rotten head of the "Law of the Sea Treaty" nail. He bases his arguments against this despicable treaty on the fact that Nations or organizations don't create wealth let alone in such a difficult place as the seabed floor. Individuals do. This is nothing more than another United Nations Scam to parasitize the work of able people or companies (Read)."
"The Law of the Sea Treaty, which awaits a ratification vote in the U.S. Senate, declares most of the earth's vast ocean floor to be "the common heritage of mankind" and places it under United Nations ownership "for the benefit of mankind as a whole."
"This treaty has been bobbing in the legislative ocean for the past 25 years. After President Ronald Reagan refused to sign it in 1982, repeated attempts at ratification have failed. Last month, however, the Senate Foreign Relations Committee voted 17-4 to send it to the full Senate, where a two-thirds majority is required to ratify.
"What's at stake are trillions of tons of vital minerals such as manganese, nickel, copper, zinc, gold and silver -- enough to supply current needs for thousands of years -- spread over vast seabeds constituting 41% of the planet's area. Senate ratification would signify U.S. agreement that the International Seabed Authority, a U.N. agency based in Jamaica, should own these resources in perpetuity.
"Why should we agree to this?"
WHY INDEED! (Wall Street Jr.)
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