With 'Off-Planet' Mining Bill, US Congress Seeks to Privatize Outer Space

Sub-Title:

Extraterrestrial 'Finders Keepers' law allows US citizens and companies to legally claim 'abiotic' natural resources including water and minerals

The legislation—described by IGN's Jenna Pitcher as "a celestial 'Finders Keepers' law"—could be a direct affront to an international treaty that bars nations from owning property in space. The bill will now be sent back to the House of Representatives, which is expected to approve the changes, and then on to President Barack Obama for his anticipated signature.

With 'Off-Planet' Mining Bill, US Congress Seeks to Privatize Outer Space

I really don't know what to think about this and see possible positive and negative outcomes. Thoughts, on both sides that come quickly to mind are:

1. It is another crass example of 'American Exceptionalism' and treaty breaking at a time when the US 'political' capital is at an all time low.

2. We do need more resouces especailly fresh water.

3. The transportation costs in both economic and ecologic terms would be massive and we (the little guy where all the money comes from) can't afford it.

4. What would be the consequences of bringing back those resources to Terra. Short term I don't think it would be much but long term would it change the mass of the planet.

5. Mostly I don't see much thought to any of the potential negative consequences only the hope of consentrated pofit for the few.

The article only discusses the first point - well part of my first point.

After writing a bit - my initial assesment is that it would be foolhardly to EXPECT this to be of help due to increased (massive) use of planetary resources and damage to the bioshpere that such an undertaking would require to be of practical use until we have the will and means to do so without added pollution. Mining of any type, anywhere does horrible damage to life.

They know the price of everything...


And the value of nothing.

Private profit with public funding.

Chomping at bit to get the gold and have someone else pay for it.

You know, I would like to own shares in an asteroid mining company. The growth potential is infinite and cost effectiveness will make the process more profitable year over year. I am for interstellar mining and shall cast my votes accordingly!

Please stop complaining about this.

Space mining is exactly how the human race is going to be able to colonize space and expand its exploration capabilities. There is no other way. Mining asteroids and other planetary bodies within our solar system makes sense. We simply do not have all the resources available here, and even if we did, the cost and magnitude of trying to supply our expansion into the solar system from Earth would be insurmountable.

originally posted by: AmericanRealist
You know, I would like to own shares in an asteroid mining company. The growth potential is infinite and cost effectiveness will make the process more profitable year over year.

I am for interstellar mining and shall cast my votes accordingly!

Oh yah, how do you guarantee the safe return of large amounts of asteroid ore to earth, without crashing into something more precious than precious metal?

a reply to: FyreByrd

Extraterrestrial 'Finders Keepers' law allows US citizens and companies to legally claim 'abiotic' natural resources including water and minerals

All right then...

I hereby issue notification that I stake claim on the Moon as my rightful and lawful property. I reserve the right as leaser to issue sub-contractual rights to the miners, provided they fill out the proper forms and submit a nominal fee for those rights.

In the very near future I will open a franchise "Starbucks" operation on said Lunar surface. Contact leaser for particulars if you too would like to enter this lucrative opportunity on a partnership basis. Olaru12 ltd. can be reached in Lubbock, Texas at [email protected]

Don't ya just love Capitalism?

originally posted by: intrptr

originally posted by: AmericanRealist
You know, I would like to own shares in an asteroid mining company. The growth potential is infinite and cost effectiveness will make the process more profitable year over year.

I am for interstellar mining and shall cast my votes accordingly!

Oh yah, how do you guarantee the safe return of large amounts of asteroid ore to earth, without crashing into something more precious than precious metal?

Easy. The oceans will be bigger in 100 years and hard to miss.

a reply to: intrptr

Oh yah, how do you guarantee the safe return of large amounts of asteroid ore to earth, without crashing into something more precious than precious metal?

Space mining is largely about mining and refining resources for use in space, and very little use on Earth itself.

originally posted by: CharlieSpeirs
They know the price of everything...


And the value of nothing.

"THEY" ??????

How much mass would we have to add to earth before we notice the moon is falling?

We should not be bringing stuff back, WE should be moving OUT THERE!

You know what? If you manage to get your ass into space, land on some asteroid/planet alive and want to use the resources, who gives a s***?

a reply to: VoidHawk


I don't think you are considering how far out there is. That's one hell of a lot of nothing between here and there.

originally posted by: Bluntone22

originally posted by: intrptr

originally posted by: AmericanRealist
You know, I would like to own shares in an asteroid mining company. The growth potential is infinite and cost effectiveness will make the process more profitable year over year.

I am for interstellar mining and shall cast my votes accordingly!

Oh yah, how do you guarantee the safe return of large amounts of asteroid ore to earth, without crashing into something more precious than precious metal?

Easy. The oceans will be bigger in 100 years and hard to miss.

Not so cheap to get the ore off the bottom.

Go to space, mine it, return it, de orbit, retrieve it from the ocean, refine it, smelt it…

The company that goes broke from the venture can declare bankruptcy and then Goldman Sachs will get the gold.

As payment on the interest from the loan to go get it in the first place. They get the gold, the interest, legislators get reelected, the people get the taxes.


Or… Loyd's of London will go in the tank for hitting a city with a small, golden asteroid.

originally posted by: projectvxn
Please stop complaining about this.

Space mining is exactly how the human race is going to be able to colonize space and expand its exploration capabilities. There is no other way. Mining asteroids and other planetary bodies within our solar system makes sense. We simply do not have all the resources available here, and even if we did, the cost and magnitude of trying to supply our expansion into the solar system from Earth would be insurmountable.

And just how are the corporations going to build the infratstruture necessary for such a 'boon' without making Mother Earth uninhabitable?

Where are the initial raw materials going to come from? Mother Earth. Where is the pollution from such an endeavor going to reside? Mother Earth. Who won't have access to those raw materials? The citizens of Mother Earth.

Cost/Benefit.

originally posted by: intrptr

originally posted by: Bluntone22

originally posted by: intrptr

originally posted by: AmericanRealist
You know, I would like to own shares in an asteroid mining company. The growth potential is infinite and cost effectiveness will make the process more profitable year over year.

I am for interstellar mining and shall cast my votes accordingly!

Oh yah, how do you guarantee the safe return of large amounts of asteroid ore to earth, without crashing into something more precious than precious metal?

Easy. The oceans will be bigger in 100 years and hard to miss.

Not so cheap to get the ore off the bottom.

Go to space, mine it, return it, de orbit, retrieve it from the ocean, refine it, smelt it…

The company that goes broke from the venture can declare bankruptcy and then Goldman Sachs will get the gold.

As payment on the interest from the loan to go get it in the first place. They get the gold, the interest, legislators get reelected, the people get the taxes.


Or… Loyd's of London will go in the tank for hitting a city with a small, golden asteroid.

Well I suppose all the 'refining' and 'maufacturing' would have to be 'on-asteroid' as well - workforce? Maybe Mr. Trumps 'Illegals'?? Solar radiation anyone?

a reply to: AugustusMasonicus

We should start a mining company.

Masonic moon miners?

It's a step.

Would love to bail on the earth and let you all fight it out.

I'll send a post card from the crab nebula... I seek the crab people. I bring butter.

originally posted by: projectvxn
a reply to: intrptr

Oh yah, how do you guarantee the safe return of large amounts of asteroid ore to earth, without crashing into something more precious than precious metal?

Space mining is largely about mining and refining resources for use in space, and very little use on Earth itself.

Building a factory made of metal to refine metal 'in space', isn't at all practical. They sold us that idea to build the space station, remember? The ISS was to be a jumping off place to 'Shuttle' to the moon to build bases and then the stars… lol.

You can still buy that real-estate if you want.

All some rich prick wants is to be the first to return a sizable chunk of pay dirt to earth, just to own it and the bragging rights.

All the better if the taxpayer foots the bill.

I'm in favour of damn near anything that gets us into space and exploring.