Recently the Russians planted a flag on the sea bed of the North Pole. They’re attempting to seize control of the abundance of oil that could be drilled there.
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This region north of the Arctic Circle holds -- get this -- 25 percent -- that's one-fourth -- of the world's undiscovered oil and gas. Five nations are competing to secure the rights to this incredible treasure in the Northwest Passage: The U.S., Canada, Norway, Denmark and Russia.
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.........As for the United States, the boat has left the dock. WE HAVE PRACTICALLY NO POSITION SINCE WE REFUSED TO SIGN THE LAW OF THE SEA TREATY.
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http://www.mclaughlin.com/thisweek/thisweek.asphttp://www.heritage.org/Research/InternationalOrganizations/wm470.cfmSo get this, we’re out of the running for all that oil that’s up for grab because of republicans. It was Ronald Reagan who refused to sign the Law of the Sea Treaty. Admittedly Reagan had good reasons not to sign, but when Clinton righted some of wrongs of that treaty...our then 1998 republican-led senate failed to give Senate ratification: Therefore, the United States' provisional participation expired in 1998.
Republicans failed policy of being obstructionists when it comes to supporting democrats no mater what’s at stake, has lead to us losing our chance at this oil.