These people still don\’t have the first clue, do they?
Environmental groups yesterday condemned British plans to claim sovereignty over a vast tract of the seabed off the coast of Antarctica, with Greenpeace and WWF expressing dismay that the Foreign Office was contemplating possible oil, gas and mineral exploration in the region.
Look, if no one owns it then no one can stop people from prospecting for oil and gas there. Only if there is a legal structure, a system of property rights, can access be regulated. Those who want there to be no drilling should be welcoming the fact that a government that they can influence is asserting said property rights.
Have these people no understanding of the most basic facts about Commons? That without an ownership structure, you can\’t stop people from exploiting the resource?