Law of the Sea Treaty once again rears its ugly head in U.S. Senate Friday, May 18 2012 By Steven Groves The Heritage Foundation Summary A proposed treaty would redirect countless U.S. dollars to an international organization that could then redistribute that money to corrupt developing countries around the world. That's what will surely happen if the U.S. Senate gives its advice and consent to the United Nations Convention on the Law of the Sea, a deeply flawed treaty that was rejected by President Ronald Reagan in 1982. (The treaty was revived by President Clinton, who sent it to the Senate in 1994. It has languished there ever since.) Like a vampire, the Law of the Sea Treaty (a.k.a. "LOST") is never quite dead. It rises from the grave every few years for Senate hearings, as it has done in 1994, 2003 and 2007. And so it is again in 2012. The Obama administration is pushing for Senate action on the treaty, and Sen. John Kerry, D-Mass., is currently scheduling a series of hearings to extol the purported benefits of LOST, the first of which is set for May 23. Of course, the vampire must feed, and its sustenance is American dollars, sucked out of the U.S. Treasury by a provision of LOST known as Article 82. If the U.S. joins LOST, it will be required by Article 82 to forfeit royalties generated from oil and gas development on the continental shelf beyond 200 nautical miles — an area known as the "extended continental shelf" (ECS). Currently, oil companies pay 100 percent of the royalties generated from such development to the U.S. Treasury based on the value of oil and natural gas extracted from the Gulf of Mexico and in the Arctic Ocean. The Treasury retains a part of those royalties, and the remainder is divided between Gulf states and the National Historic Preservation Fund. But under LOST, the United States would be forced to transfer a part of that revenue to the International Seabed Authority, a new international bureaucracy created by the treaty and based in Jamaica. Voila! What was once income paid into the Treasury for the benefit of the American people is transformed into "international royalties" by LOST. To borrow a phrase from former presidential candidate Ross Perot, that "giant sucking sound" you hear is American dollars heading from Washington to Kingston. Unfortunately no one will hear about Article 82 at the May 23rd hearing. That's because Sen. Kerry is permitting testimony only from witnesses who already favor LOST: Secretary of State Hillary Clinton, Secretary of Defense Leon Panetta, and Joint Chiefs Chairman Martin Dempsey. No Abraham Van Helsing, ahem, opposition witnesses have been invited to testify. After all, it is in the interests of those who favor U.S. membership in LOST that the treaty not be exposed to direct sunlight. Law of the Sea Treaty once again rears its ugly head in U.S. Senate | Deseret News Law of the Sea Treaty Read the complete Law of the Sea Treaty here.