PGibson
03 Apr 09
2:30pm
New technology may make the extraction of natural resources deep under the ocean floor economically feasible in the future. Massive mineral deposits have been discovered near hydrothermal vents but the challenges of acquisition remain to be completely defined and overcome. The most obvious obstacles include how to extract the minerals without harming the unique environment as well as navigating the global political arena. A breakthrough project is being slated to take place within the territorial waters of Papua, New Guinea (possibly by 2011). Resources will be extracted by means of adopted deep water drilling technology developed by the oil companies. Many resources reside outside territorial waters which will be resided over by the International Seabed Authority. The ISA was established in 1982 by the United Nations Convention on the Law of the Sea. Scientists, businessmen, and policymakers from many countries are meeting to discuss the best way to extract the precious bounty and protect the delicate world of the oceans depths.
The discovery and attainment of abundant natural resources will surely have many folks salivating and dreaming of financial opportunity. As resources are consumed and demands increase the identification of new sources of raw materials becomes increasingly important. The potential environmental aspects of such an extraction are of great concern with conservation being the primary focus. In this case, it appears that the ducks are being lined up correctly and that mining can ultimately take place while protecting the unique environment that holds such riches. The collection of scientists (including geologists, marine geologists, etc) involved encourages a potentially successful outlook in terms of environmental conservation. Beyond the scientific and monetary aspects will be the political and legal aspects of ownership and rights, which will probably prove to be an intense hot pocket of debate. It may prove to be interesting to see a joint venture of multiple nations tackle an endeavor such as this. The conglomeration of environmental, business, and political considerations may pave the way for new successful enterprises in the future.
http://news.yahoo.com/s/ap/20090401/ap_on_sc/sci_deep_ocean_mining;_ylt=AtjMYQAG3ksx.61FMuBp_pIPLBIF
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