First, it notes: "Successful long-term exploration and scientific discovery of the Moon, Mars, and other celestial bodies will require partnership with commercial entities to recover and use resources, including water and certain minerals, in outer space."
Second, it notes that "Uncertainty regarding the right to recover and use space resources, including the extension of the right to commercial recovery and use of lunar resources, however, has discouraged some commercial entities from participating in this enterprise."
Third, it suggests that the 1979 Moon Treaty has contributed to this uncertainty-- http://www.unoosa.org/oosa/en/ourwork/spacelaw/treaties/intromoon-agreement.html
Fourth, it notes: the "United States has neither signed nor ratified the Moon Agreement. In fact, only 18 countries have ratified the Moon Agreement . . ."
Fifth, this indicates that the Moon Treaty is not binding on the US as a matter of treaty law, nor would it make any sense to regard it as customary international law. And so I tell my International Law class, but . .
Sixth, the EO objects to any possible legal effect of the Moon Treaty: "Accordingly, the Secretary of State shall object to any attempt by any other state or international organization to treat the Moon Agreement as reflecting or otherwise expressing customary international law."
Seventh, this makes sense for the US to go on record as a "persistent objector" to make it clear that we would not be bound by any legal rules that would emerge as a matter of customary international law. BUT . . .
Eighth, I find it curious the US would even suggest that there was "uncertainty" about the status of the Moon Treaty. I think the US could express certainty that it does not "establishes the legal framework for nation states concerning the recovery and use of space resources."
Ninth, the EO does note that "the Secretary of State shall seek to negotiate joint statements and bilateral and multilateral arrangements with foreign states regarding safe and sustainable operations for the public and private recovery and use of space resources."
Tenth, that is good-- to seek to establish a framework based on international cooperation. BUT . . .
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