Countries are getting really creative these days! To address the rising costs of oil importation/dependence, the UK and probably most countries with a seafront are looking into exploring their seabeds for possible source of black gold!
Britain is to formally present its case to the UN in New York for extending its territorial rights around Ascension Island in the South Atlantic.
States have rights over their resources – including oil or gas reserves – up to 200 nautical miles from the shoreline.
But the UK wants to extend those rights around Ascension on the grounds that the island’s landmass actually reaches much further underwater.
Ascension Island is part of the British overseas territory of St Helena.
The UK will present its claim on Wednesday to the United Nations Commission for the Limits of the Continental Shelf.
Due to the advances in technology, countries are NOW able to find out if their seabeds are oil-rich. 30-years ago, this was not possible. And so I would understand why the race is on. In South East Asia, 5 countries are laying claim on a small patch of islands which apparently are oil rich.
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