The biggest land grab since the scramble for Africa is taking place under the sea. Last Wednesday was the ten-year deadline for most countries to submit claims over seabeds. States that have ratified the United Nations Convention on the Law of the Sea are able to claim extensions to their continental shelves beyond the normal 200 nautical miles and up to 350 miles from land. If the legitimacy is certified, a country can exploit minerals – including metal deposits and energy reserves – on or under the seafloor.
The UN has 50 applications to consider. Competing claims and competition over valuable resources are unavoidable, but hopefully negotiations and compromise between countries will ensue. Rich in oil and gas (the area has up to a quarter of the world’s undiscovered reserves), the Arctic is arguably the most contentious location. Five neighboring countries – Canada, Denmark, Norway, Russia and the United States – all want access to the region’s wealth.
One notable maritime power that has never ratified the treaty is the United States – but it should. “The treaty is certainly not going to solve all the troubles afflicting the oceans, nor settle all the world’s maritime disputes. But it can help. To be effective, though, it needs America. Ratification has waited too long. The Senate should press ahead.”
Images from the Economist.
