The Seabed Power Struggle

On June 20, 1974, delegations representing the governments of 150 nations convened in Caracas, Venezuela. The occasion: the Third United Nations Conference on the Law of the Sea. (As this article goes to press, the conference is still in session-Ed). Of all the many issues to come before the conference, none is of greater long-term consequence than the issue of jurisdiction over the seabed-the "land" at the bottom of the world's oceans. On the agenda, with widespread support from a majority of UN members, is a proposal to declare seabed resources "the common heritage of mankind," under the sole jurisdiction of the United Nations. Any would-be miner of seabed minerals would have to apply to a UN seabed authority for a permit, and would be forced to pay the bulk of his profits to a UN fund to aid the underdeveloped countries.