Wednesday, 13 June 2012

Do we really want to hand more money over to the UN -- Senate should reject Law of the Sea

... The US currently enjoys sovereignty over its entire continental shelf. This allows Americans to utilize the zone economically, including oil and gas production. Royalties of 12.5% to 18.75% on what some believe to be worth billions or trillions currently accrue to the Treasury. But article 82 of the treaty alters this. It would divert royalties to a UN body in Kingston, Jamaica. The explicitly stated purpose: redistribution of wealth “on the basis of equitable sharing criteria, taking into account the interests and needs of developing States, particularly the least developed.” ...
Christian Whiton is a former U.S. State Department senior advisor and is a principal at DC International Advisory. []

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