WHY WOULD REPUBLICAN SENATORS SUPPORT LOST?

Big oil and multi-national firms support LOST because it would codify U.S. rights to explore and mine the ocean up to 200 miles from the American coast and would let the United States stake claims to seabeds outside that limit. LOST means big money for big oil and other multi-national firms and it could actually be of some benefit -- in the short term -- to the U.S. economy. Also, many of the big oil firms believe that it much easier to deal with one entity than many different entities. In common parlance, its easier to line the pockets of a few corrupt U.N. officials than to line the pockets of scores of corrupt world leaders. Its a recipe for graft. But there are a few -- very big -- catches to LOST... LOST will give the United Nations sole power to issue permits for fishing, drilling and mining operations at sea. Basically the United Nations will be able to charge exorbitant fees and taxes to companies wishing to mine and drill overseas -- fees that will be passed on to you at the ... more