Law of the Sea Treaty (LOST)
05/21/12 - Obama supports the Law of the Sea Treaty which will give 50 percent of future royalty income from offshore oil and gas production to the UN.
This is a non-Partison issue, President Bush tried to revive it in 2007. President Reagan rejected the Treaty in 1982.
Law of the Sea Treaty
The Law of the Sea Treaty was negotiated in the 1970s, formally known as the Third United Nations Convention on the Law of the Sea, or UNCLOS III, was adopted in 1982.
The treaty was heavily influenced by the "New International Economic Order," a set of economic principles first formally advanced at the United Nations Conference on Trade and Development (UNCTAD). That agenda called for "fairer" terms of trade and development financing for the so-called under-developed and developing nations.
Another way the New International Economic Order has been described is "redistributionist."
The Law of the Sea Treaty calls for technology transfers and wealth transfers from developed to undeveloped nations. It also will give the UN some authority over the US Navy in it's operations.
Reagan opposed the treaty, George Bush tried to bring it back to life and now Obama wants our Senate to ratify it and make it law.
If the United Nations controls the oil in all the oceans of the world, they will be given 50% of the royalties that Chevron, BP, Exxon, etc. pay our government to drill in coastal waters. The only winner here is the UN. Our government will be losing Trillions of dollars in future royalties from Oil companies and would most likely have to increase the fee charged to the Oil companies which would be passed on to consumers.
The United Nations would also have some governance of the United States Navy as the treaty puts restrictions on where our Navy may operate. There is much more to it than just these two items. Videos below explain more.
Law of Sea Treaty Hurts American Sovereignty
Phyllis Schlafly on the Law Of The Sea Treaty (LOST)
Obama Supported UN Law of the Sea Treaty Goes to Senate For Final Vote
The Law of the Sea Treaty (LOST) places the UN in control over 70% of the earth’s surface and resources. LOST will move the global Elite miles ahead toward their goal of global governance.
LOST encompasses “all ocean space, with all its uses, including navigation and overflight; all uses of its resources, living and non-living, on the high seas, on the ocean floor and beneath, on the continental shelf and in the territorial seas…. The Convention is widely recognized by the international community as the legal framework within which all activities in the oceans and the seas must be carried out.”