Is Global Warming Bad?

[jerryfmcompushaft]

Is global warming (if it exists) a bad thing? Maybe not

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NUUK, GREENLAND With Arctic ice melting at record pace, the world’s superpowers are increasingly jockeying for political influence and economic position in outposts like this one, previously regarded as barren wastelands.

At stake are the Arctic’s abundant supplies of oil, gas and minerals that are, thanks to climate change, becoming newly accessible along with increasingly navigable polar shipping shortcuts. This year, China has become a far more aggressive player in this frigid field, experts say, provoking alarm among Western powers. Full Article here

[boxcar]

>Chinese firms have acquired interests in two oil companies that could afford them access to Arctic drilling.<
That is an interesting statement. I know of no oil company that owns their own rigs. I am not so sure of State-Oil of Norway, however (STO) . They could be an exception. China is using Sea drill (SDRL)to do some of their explorations. To put it in another way, drilling companies are in the oil business, but they are not oil companies.

>Ownership of the Arctic is governed by the United Nations Convention of the Law of the Sea, which gives Arctic nations an exclusive economic zone that extends 200 nautical miles from land, and to undersea resources farther away so long as they are on a continental shelf.<

We never did ratify that Law of the Sea Treaty (LOST) and I hope we never do. It gives the UN too much power. And as far as I know, that “extended continental shelf” claim is a land grab by Russia, and it is still up in the air.

[mcnoch]

Yes, Russia is maneuvering in this "proof of extended continental shelf" very aggressively.

[boxcar]

Here is another piece of that Law of the Sea Treaty and other UN maneuvers:

A 1 percent tax on billionaires around the world. A tax on all currency trading in the U.S. dollar, the euro, the Japanese yen and the British pound sterling. Another “tiny” tax on all financial transactions, including stock and bond trading, and trading in financial derivatives. New taxes on carbon emissions and on airline tickets. A royalty on all undersea mineral resources extracted more than 100 miles offshore of any nation’s territory.

The United Nations is at it again: finding new and “innovative” ways to create global taxes that would transfer hundreds of billions, and even trillions, of dollars from the rich nations of the world — especially the U.S. — to poorer ones, in line