The United Nations has launched a far-reaching initiative that could give U.N.-sponsored authorities sway over the biological resources of the high seas—all the waters that lie outside national territories and economic zones.
The potential shift in power involves multi-trillion-dollar issues, such as whether large areas—conceivably, as much as 30 percent– of the world's international waters should be designated as no-go areas to protect biological diversity; whether and how to require elaborate "environmental impact assessments" for future ocean development projects; and how to divide up the economic benefits from the future development of "marine genetic resources."
This treaty has many layers. First, it will set aside large areas for reserves, much like what we see in parks in the Midwest. This will be done in the name of preservation. This will mean that places like the seas off the North East will be closed to fishing.