Why the Domestic Oil and Gas Industry Supports United States Accession to the 1982 United Nations Convention on the Law of the Sea

The 1982 United Nations Convention on the Law of the Sea contains major provisions that U.S. negotiators have sought for over two decades. The internationally recognized right to the mineral resources of a broad continental margin is of potentially enormous future importance to the United States. Although water depths reach 10,000 feet in some of the deeper areas of the margin, technology is rapidly making those depths economically accessible. In 1997, production in the Gulf of Mexico will reach a world record water depth of 5400 feet. Of perhaps even greater importance to the oil and gas industry is the broadly acknowledged right for tanker transport of oil to take place throughout all parts of the world's oceans.