Law of Sea structure still favors discredited and corrupt redistributionist model for foreign aid
Were seabed mining ever to thrive, a transparent system for recognizing mine sites and resolving disputes would be helpful. But the Authority's purpose isn't to be helpful. It is to redistribute resources to irresponsible Third World governments with a sorry history of squandering abundant foreign aid.
This redistributionist bent is reflected in the treaty's call for financial transfers to developing states and even "peoples who have not attained full independence or other self-governing status"-code for groups such as the PLO. Whatever changes the treaty has undergone, a constant has been Third World pressure for financial transfers. Three voluntary trust funds were established to aid developing countries. Alas, few donors have come forward to subsidize the participation of, say, sub-Saharan African states in the development of ocean mining. Thus, the Authority has had to dip into its own budget to pay into the funds.
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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