Oceans & Law of the Sea United nations Division for Ocean Affairs and the Law of the Sea
Video from un.org
From Occupy Corporatism
The UN’s Law of the Sea Treaty (LOST) will deliver American sovereignty and seven-tenths of the world’s surface through allocation of oceans and seas to the UN by way of the entanglement of global bureaucracy.
Over three decades ago, then President Ronald Regan rejected LOST, saying “no national interest of the United States could justify handing sovereign control of two-thirds of the Earth’s surface over to the Third World.”
The writers of LOST want to give the UN power to draw oceanic boundaries to impose environmental regulations and restrict business on the high seas.
LOST would give critical US naval and drilling operational decision making and final word to the UN.
Regan believed LOST was an “effort to promote global government at the expense of sovereign nation states — and most especially the United States.”
On Capitol Hill, supporters of LOST include Senators Richard Lugar (who now heads the Senate Foreign Relations Committee), Chuck Hagel, John Warner, Trent Lot.
The coalition of the US Navy, multi-national oil corporations led by Shall and radical environmentalist lawyers are providing advocacy for the UN’s usurpation of our individual rights as an independent nation.
Big oil supports LOST because of its provisional extension of jurisdiction over the continental shelf beyond the current 200 mile limit.
However, LOST requires that royalties of between 1 and 7% be paid to the International Seabed Authority (ISA) on the value of oil and minerals produced from those waters.
Effectively, the UN would regulate offshore and deep-sea production all over the world. The financing would come from American taxpayers. The taxation collected by the ISA would be redirected to the UN.
Larry Bell of Forbes magazine wrote that “as much as 7 percent of U.S. government revenue that is collected from oil and gas companies operating off our coast” and then reallocated by the UN to “poorer, landlocked countries.”
In the name of environmental justice, trillions of dollars would be siphoned from Americans.