One OPEC is enough

Journal Article · Sun Nov 01 04:00:00 EST 1981 · Regulation; (United States)

OSTI ID:5815838

Ely, N

In the author's view, the Law of the Sea Treaty would end freedom of the seas and initiate one of the greatest land grabs in history. It would establish an authority to control Western access to sea bed minerals and operate as an OPEC-type cartel. The Third World Enterprise proposed in the treaty, with first preference over sites, could delay or deny permits to companies that had already invested heavily in exploration in favor of enhancing the development opportunities of other states. The treaty also mandates technology transfer, grants control of mining operations to the Authority according to a complex production formula, and encourages the organization of cartels to keep prices and tariffs high. The Enterprise could benefit from all the disadvantages of the private miners and develop its own worldwide monopoly. (DCK)

• OSTI ID: 5815838
• Journal Information: Regulation; (United States), Journal Name: Regulation; (United States); ISSN REGUD
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
290400 -- Energy Planning & Policy-- Energy Resources
ADMINISTRATIVE PROCEDURES
AGREEMENTS
CARTELS
GLOBAL ASPECTS
INTERNATIONAL AGREEMENTS
LAWS
MINERAL RESOURCES
MINING LAWS
PERMITS
RESOURCES
SEA BED
TECHNOLOGY TRANSFER