Land-based mineral mining countries possess equivalent voting rights to the US in ISA
Land-based mineral producers are generally opposed to the very idea of seabed mining. Yet they, as well as the “developing States Parties, representing special interests,” such as “geo- graphically disadvantaged” nations, each have their own chamber and, thus, a de facto veto over the ISA’s operations.30 Thus, the voting power of such groups essentially matches that of America. Moreover, the qualification stan- dards for miners are to be established by “con- sensus,” essentially unanimity, which could give land-based producers as much influence as the United States. The possession of a veto provides them with an opportunity to extract potentially expensive concessions—new limits on production, for instance, or increased redis- tributionist payments under the treaty—to let the ISA function. Unfortunately, once the Authority asserts jurisdiction over seabed mining, potential producers would be hurt by a deadlock.
Don’t Resurrect the Law of the Sea Treaty . Cato Institute: Washington, D.C., October 13, 2005 (1-20p). [ More (16 quotes) ]
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By ratifying UNCLOS, the U.S. would be subjecting its resource extraction industries to control by the United Nations. Furthermore, these industries would be assessed a royalty fee on these resources that the International Seabed Authority would redistribute to other states, possibly counter to U.S. national security interests.
Keywords:Related Quotes:- Law of Sea structure still favors discredited and corrupt redistributionist model for foreign aid
- Actual royalty rate has yet to be determined, leaving US companies vulnerable to exorbitant costs
- Land-based mineral mining countries possess equivalent voting rights to the US in ISA
- Voting in ISA already beset by corruption and vote dilution
- UNCLOS would create new international authority for a massive and unprecedented transfer of wealth
- UNCLOS obligates states that mine the seabed to provide funds to subsidize its land-based competitors
Parent Arguments:Supporting Arguments:- Under UNCLOS, U.S. revenues from offshore resource extraction would be redistributed to non-desirable state actors
- U.S. ratification of UNCLOS would give United Nations ability to impose tax on U.S. citizens
- UNCLOS participation would require U.S. to transfer significant royalties to International Seabed Authority