U.S. ARCTIC OIL MAY BE LOST TO THE UNITED NATIONS
By Alan Caruba
“One third of the undiscovered oil is in Alaskan territory, the agency found….” Considering that the Democratic Party-controlled Congress adamantly refuses to let drilling occur for the oil known to exist in and off-shore Alaska, it is not surprising the public has concluded this vast treasure will remain untouched.
Apathy, however, is not a very good response to the prospect of this mother lode of potential new oil. Worse yet, we stand to lose any of the wealth it will generate, if the U.S. Senate ratifies the United Nations Law of the Sea Treaty, whose acronym, LOST, could not be more accurate. The Joint Chiefs of Staff have endorsed the treaty, apparently oblivious to the fact that the mighty U.S. Navy can go anywhere it wants in the world. Even the Bush administration has marshaled no arguments against the treaty.
This monstrosity of a treaty has been around since the days when the Reagan administration first rejected it.
Full disclosure of the contents of this treaty would have Americans in the streets of Washington, D.C., brandishing pitchforks. Bernard Oxman, a professor at my alma mater, the University of Miami, describes its text as “amply endowed with indeterminate principles, mind-numbing cross-references, institutional redundancies, exasperating opacity, and inelegant drafting.” In other words, it is a document intended to steal the wealth to which the United States has a legitimate claim.
Douglas Stone, a senior fellow at the Center for Security Policy, warns:
Can you imagine gifting the United Nations with $50 trillion in Arctic oil taxes? That is what the U.S. Senate will do if it ratifies LOST.
Frank J. Gaffney Jr., President of the Center, reminds us:
For more than a decade, the United Nations International Seabed Authority (ISA) has never produced a single commercial minerals harvesting operation, despite having unfettered access to all the world’s great oceans resources.
The United States, however, needs more oil now. In addition to Congress having put vast reserves in Alaska’s ANWR off-limits, it has done the same for exploration and drilling in 85% of the nation’s continental shelf.
The solution to America’s present oil crisis lies in part in the Arctic Commons and, in particular, the Amerasia-Canada Basin that holds the promise of huge oil reserves for centuries to come.
A dangerous scramble for the oil and gas reserves between Russia and the West can be avoided and, more to the point, the U.S. will lose its entire future commercial and energy security by signing onto LOST. Meanwhile, Democratic Party leaders in both houses of Congress have already rejected President Bush’s July 14, 2008, effort to end a 25-year moratorium on drilling in most coastal waters.
The Democratic Party-controlled Congress is insane, treasonous, or both. Its presumptive candidate for President, U.S. Senator Barack Hussein Obama, Jr., wants to repeat former President James Earl Carter’s appalling windfall profits tax on oil companies. The ultimate result was a nearly 60% reduction in U.S. oil production.
The Bloomberg News report noted:
At a time when nationalized foreign oil companies control more than 70% of the world’s energy resources, private enterprise is the only answer to our national energy security. The largest transfer of wealth in history is occurring and it bodes ill for the United States. We dare not compound this travesty by failing to take steps to ensure access to the Arctic Commons vast reserves.
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Alan Caruba is a veteran business and science writer, a Public Relations Counselor, and Founder of the National Anxiety Center, a clearinghouse for information about media-driven scare campaigns. Caruba writes a weekly commentary, "Warning Signs," posted on the Internet website of the National Anxiety Center, which is located at www.anxietycenter.com.
Caruba has a daily blog at http://factsnotfantasy.blogspot.com.
Caruba’s new book, Right Answers: Separating Fact from Fantasy, has been published by Merril Press.
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