US not out of running in race for Arctic resources, it can still submit claim if it ratifies UNCLOS
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Though the United States has not ratified UNCLOS, this does not mean that they are out of the running in the race for Arctic territory. Due to the lengthy CLCS review process, oil and gas drilling activity in the extended continental shelf regions by any country is likely a long way away.51 It also appears that the United States is not abandoning UNCLOS, and in "[p]rospects for the U.S. Senate to ratify the Convention on the Law of the Sea [continue to] improve."52 The stalled bill in the U.S. Senate has not aggrieved the energy industry, as "energy industry officials have made it clear to U.S. agencies that they are not interested in undertaking exploration and production beyond the 200-nautical-mile exclusive economic zone without a firm international legal framework recognizing any extended claims."53 However, the prospect of the United States joining the game may be even more distant because the CLCS is far from a "firm international legal framework."54 For now, the only certainty is that the United States must make major political progress by either ratifying the UNCLOS treaty or attempting to resolve any concerns regarding Arctic lands in another forum. Further, the United States must engage other nations in order to become a major player in the Arctic territorial battle.
By relying on the Convention and the doctrine of the high seas, the United States may bypass the UNCLOS regime altogether and begin exploration and exploitation of the Arctic area immediately.