Source: http://news.investors.com/article/610769/201205081849/obama-pushes-law-of-the-sea-treaty.htm?p=full
05/08/2012
Sovereignty: Even if he's not re-elected, the president hopes to leave behind a treaty giving a U.N. body veto power over the use of our territorial waters and to which we'd be required to give half of our offshore oil revenue.
The Law Of The Sea Treaty (LOST) has been lurking in the shadows for decades. Like the Kyoto Protocol that pretended to be an effort to save the earth from the poisoned fruit of the Industrial Revolution, LOST pretends to be an effort to protect the world's oceans from environmental damage and remove it as a cause of potential conflicts between nations.
Like its Kyoto cousin, LOST is an attempt at the global redistribution of power and wealth, the embodiment of the progressive dream of the end of the nation state as we know it and the end of political freedom by giving veto over all of mankind's activities to a global body — in this case something called the International Seabed Authority, located in Kingston, Jamaica.
The ISA would have the power to regulate 70% of the earth's surface, placing seabed mining, fishing rights, deep-sea oil exploration and even the activities of the U.S. Navy under control of a global bureaucracy. It even provides for a global tax that would be paid directly to the ISA by companies seeking to develop the resources in and under the world's oceans.
As Heritage Foundation senior fellow Peter Brookes notes, the U.S. government now can collect royalty revenues from oil and gas companies that wish to drill on our extended continental shelf — the undersea areas beyond 200 miles of our coast. But if we ratify LOST, we'd have to fork over as much as 7% of that revenue to the ISA for redistribution to poorer, landlocked countries.
Maritime and jurisdictional disputes would be settled by the ISA, which presumably would tell the U.S. Navy where it could and could not go. Freedom of navigation has been guaranteed by the U.S. Navy and, before it, the British Royal Navy. Now it would be the ISA. This meets perfectly the definition of the "global test" Sen. John Kerry, a backer of LOST, said in 2004 that our actions must meet.
With a possible new White House occupant and Republican majority returning to the Senate in 2013, LOST is back on the front burner. Kerry is quietly working to recruit Republican votes needed to ratify the treaty. LOST is also backed by Sen. Richard Lugar. It will be brought up soon for ratification, perhaps as early as next month, and was delayed — analysts believe — by Lugar's belief it would hurt him in the Indiana primary.
LOST was a bad idea when President Reagan refused to sign it in 1982 and actually fired the State Department staff members who helped negotiate it. It was drafted at the behest of Soviet bloc and Third World dictators interested in a scheme to weaken U.S. power and sovereignty while transferring wealth from the industrialized to the developing world.
Reagan rightly decided the U.S. shouldn't be a part of this global resource grab and redistribution of wealth. The treaty was co-authored by Elisabeth Mann Borgese, an admirer of Karl Marx and a socialist who ran the World Federation of Canada.
She views the oceans as the "common heritage of mankind" and in a 1999 speech declared, "The world ocean has been and is, so to speak, our great laboratory for the making of a new world order." We prefer the world order under Reagan, where we called our own shots.
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