This one sounds especially egregious:
Law of the Sea Treaty (LOST) has been signed, and the Obama administration — with the aid of RINO Sen. Richard Lugar (Ind.) — will push for its ratification as soon as Lugar’s primary in Indiana is over this year. LOST requires that the United States pay an international body half of its royalties from offshore drilling. The body would then distribute the funds as it sees fit to whichever nations it chooses. The United States would only have one vote out of 160 regarding where the money goes. LOST will also oblige us to hand over our offshore drilling technology to any nation that wants it … for free.
I would be willing to bet even money that Mexico, Brazil, and Nigeria would never sign onto this treaty because it would damage their home grown undersea drilling. The idea that Petrobras would kick back 50% of their profits to some international body would be ludicrous. Also they would never drive away the other drillers (and the money they pay the Brazilian government) that are taking advantage of their huge offshore oil strike.
Also the idea that offshore drilling technology will be handed off is not some terrible thing. Currently much of the drilling technology seems pretty homogeneous and Petrobras is using the same super deep water drilling technology as TransOcean does as far as I can tell. I mean any country or company domiciled anywhere in the world can commission the building of a super deep water rig for whatever billion it costs. I mean this is not nuclear secrets we are talking about.
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