Since China, Russia and the U.S. have all expressed the wish to return to the Moon recently, the U.S. with publicly announced goal of making base on
the Moon for a Mars mission.
It seems a race may be on to claim new territories, what do you believe about this possibility?.
I will start by saying that if the U.S. decides a treaty is not in its best interest it will drop out of that treaty (ABM treaty for example)
The space treaty of 1967 has Article XVI, stating;
"Any State Party to the Treaty may give notice of its withdrawal from the Treaty one year after its entry into force by written notification to the
Depositary Governments. Such withdrawal shall take effect one year from the date of receipt of this notification."
If discovery of valuble resources are made it seems that any country capable of defending itself both here on Earth and in Space would drop the treaty
and take them for its own.
This link has a good take on the subject;
Washington Times
link
[Edited on 7-3-2004 by Phoenix]