Third World Ripoff Of Offshore Royalties: Screwed!

By Dick Morris on May 11, 2012

The Law of the Sea Treaty (LOST) comes up for Senate ratification next month. In Screwed!, we detail why it must be defeated!

Signed in the 70s as part of the “New International Economic Order” heralded by the United Nations and described, accurately by Forbes, as a scheme to “take money from productive First World countries and give it to authoritarian Third World dictatorships.”

Reagan, Bush, Clinton, and Bush refused to send it to the Senate for ratification, but Obama is pushing it, hoping to jam it through the Democratic Senate.

The Treaty requires the United States to pay to an International Seabed Authority half of its oil and gas royalties from wells beyond the 200 mile continental shelf. The Authority would distribute these revenues as it saw fit – with the U.S. casting only 1 of 160 votes in making the decision. Estimates of the total amount of revenue we will forfeit run to the hundreds of billions. Who needs foreign aid?

In Screwed!, we explain how and why we need to fight this treaty.

The Law of the Sea Treaty is just one part of a creeping globalism – sometimes galloping – which is coming to dominate Obama’s planning for the Lame Duck Senate session after the election. Recall that in 2010, he used the lame duck Senate to pass the START give-away treaty with Russia. In Screwed!, we outline the coming range of treaties and how to fight them.

Please take a moment to sign our petition to stop ratification of this horrible treaty. And check our new book Screwed! to get the full story on all of these treaties.

Click Here To Sign The Petition To Fight The Treaty That Cedes Our Sovereignty!

Click Here to order a copy of Dick and Eileen’s new book, SCREWED!

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Please leave a comment below - I would love to hear what you think! Thanks, Dick
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