Who Owns the World's ocean

This week in science class we talked about who own the oceans and the problems that occur when to comes to mining ocean minerals. the common problem is that wealthy industrial countries think that they could keep whole profit from mining because they paid for all the work. The poorer countries can not afford the process of mining the ocean floor because it is very expensive. There is a common sea law that 157 nation signed and according to this law ocean mineral deposits are the common property of all people. The problem is that wealthier nations   just don't want to co-operate with poorer countries because they are afraid that it would slow down their industrial production even though they should. In order to reassure poorer countries that they won't be left out, prospering nations should invest in the development of poor countries and also promise them the access to the annual percent of the mining profit. When it comes to who should get the annual profit, the countries that live near the ocean get the profit. The cities that live near the Pacific and Atlantic ocean should get some of the minerals.