It's been in place for nearly 30 years; nearly 160 countries (plus the European Union) have signed it. But the United States has yet to ratify the United Nations Convention on the Law of the Sea. As a result, the United States, the world’s leading maritime power, is at a military and economic disadvantage.
The convention codifies widely accepted principles on territorial waters (which it defines as those extending 12 miles out to sea), shipping lanes and ocean resources. It also grants each signatory exclusive fishing and mining rights within 200 miles of its coast (called the exclusive economic zone). Although the United States originally voted to create the convention and negotiated many provisions to its advantage, Congress has never ratified it.… Seguir leyendo »
The Obama administration’s decision to allow oil drilling off northern Alaska and the East Coast and in the eastern Gulf of Mexico is a bold political move that demonstrates a rational approach to energy policy. Yet, given the peculiarities of petroleum extraction, the public shouldn’t buy any arguments that it’s going to accomplish a lot in terms of energy independence or payback for taxpayers.
The administration is trying to deflect criticism from environmentalists by pointing out that the decision should help reduce our dependence on foreign oil, create thousands of high-paying jobs and generate much-needed tax revenue. But Mr. Obama is being careful not to offer any specifics, and for good reason: estimating undiscovered resources in areas with little previous drilling is as much art as science; even the most optimistic projections concede that the amount of petroleum we’re talking about here is relatively minor; and while some jobs may be created fairly quickly, profits (and tax revenues) are going to come slowly.… Seguir leyendo »
Nearly 30 years ago, Congress imposed a moratorium on the safe and environmentally sound practice of offshore oil and natural-gas exploration. In the early 1990s, President George H.W. Bush imposed a similar ban in the form of an executive order. And while this ban was in place for decades, many in Congress and the public at large had no idea that the United States was the only country in the industrialized world purposely embargoing its own energy resources.
Fast-forward to the summer of 2008: Oil was $150 a barrel, the price at the pump exceeded $4 a gallon, and the American people - of all political stripes - were genuinely outraged.… Seguir leyendo »
The Obama administration sparked an uproar this week when it approved new oil and gas drilling in U.S. waters off the coasts of Virginia, other parts of the mid- and south Atlantic, the eastern Gulf of Mexico and parts of Alaska. Drilling remains off-limits near New Jersey and California, but Interior Secretary Ken Salazar called the decision "a new direction" in energy policy.
Indeed, offshore drilling has been seen as taboo for decades. The 1969 Santa Barbara oil spill was a galvanizing moment for environmentalists. It helped launch the modern environmental movement and gave us a new symbol of environmental threat -- the offshore oil platform.… Seguir leyendo »
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