... Law of the Sea, also called the Law of the Sea Treaty -- regulates all things oceanic, from fishing rights, navigation lanes and environmental concerns to what lies beneath: the seabed's oil and mineral wealth that companies hope to explore and exploit in coming years.
But critics say the treaty, which declares the sea and its bounty the "universal heritage of mankind," would redistribute...
... says.
The report says the UN's Law of the Sea Treaty, which is a top priority for Senate ratification under the Obama Administration, is a measure that has "earned the acceptance and compliance" of most nations. The treaty would turn over oil, gas, and mineral resources to the UN and authorize access to them through payment of a global tax to a UN body.
The so-called "Council on Global...