REJECT the L.O.S.T
Senator James Inhofe on the UN’s Law of the Sea Treaty:
“For the first time in U.S. history, LOST will create an international body that can tax this country,” said Inhofe.
“Royalties, despite the misinformation that Chairman Kerry provided, will go from the U.S. Treasury to an international group located in Kingston, Jamaica. From there, the funds will be redistributed to the ‘developing world,’ including to regimes that are corrupt and despotic. There could be billions, if not trillions, in resources in the Extended Continental Shelf (ECS). Using a conservative estimate of $1 trillion, that would mean $70 billion lost from the United States to a faceless international bureaucracy in what amounts to a bailout to the Third World. ”