Breitling Oil and Gas Morning Podcast #111 July 13th, 2012

It’s becoming increasingly urgent for the US to join the Law of the Sea treaty.  This treaty would give us an opportunity to develop more of our own Outer Continental Shelf, particularly in the Arctic where an estimated 25% of the world’s remaining energy resources lie

Canada, Russia, Norway, and other countries that already are active in the Arctic sit on the council of the International Seabed Authority, which the treaty established. Some have already filed claims, We are sitting on the sidelines and could wake up 30 years from now with less than what we deserve because we didn’t come on board now.

US Senate ratification of the treaty would help US manufacturers by opening up more resources for development, and by providing access to new rare earth deposits to produce rare earth minerals used to make a wide range of goods including petroleum refining catalysts.

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