Dick Morris talks to us today about another treaty that would ruin US sovereignty. The Law of the Sea Treaty (LOST) will be up for ratification in the US Senate sometime in May or June.
The most controversial aspect of this treaty is that 50% of revenue from offshore oil drilling performed within 200 miles off the US coast would be extracted to a governing foreign body. That body would then determine where the money went.
Heritage organization wrote about this treaty back in July 2011. The three major flaws of this are:
- Redistributing US wealth
- Funnels money to corrupt nations
- Creates barriers to exploration
Ronald Reagan was the first to reject the Law of the Sea Treaty.