Luxembourg establishes its own legal framework for asteroid mining
The competition heats up: Luxembourg on November 11 announced that it is establishing its own legal framework to protect the profits of any private asteroid mining effort.
Because the UN Outer Space Treaty forbids them from claiming any territory in space, this new law essentially says that Luxembourg law will instead be applied specifically to the resources mined. Or to put it in more colloquial terms, “Finders, Keepers,” though it comes with a lot of complex further regulation required to satisfy that treaty.
The draft law also lays down the regulations for the authorization and the supervision of space resources utilization missions, including both the exploration and use of such resources. Whoever intends to undertake a space resources utilization mission will be required to obtain an authorization to do so, for each specific and determined mission. The text sets forth the necessity for a book of obligations for any mission, such as activities to be carried in or out of Luxembourg, to allow government supervision of the activities of operators and regulating their rights and obligations. The legislation is expected to enter into effect in early 2017.
This complexity will cost money unnecessarily, and also require an unnecessary bureaucracy with a great deal of power over the actions of space companies. It illustrates again how really bad the Outer Space Treaty is, and how it will oppress future spacefarers. The sooner the treaty is dumped the better. If we don’t do it here on Earth, I guarantee that the people of space will do it, as soon as they become self-sufficient enough to thumb their noses at the ground-pounders on the mother planet.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
The competition heats up: Luxembourg on November 11 announced that it is establishing its own legal framework to protect the profits of any private asteroid mining effort.
Because the UN Outer Space Treaty forbids them from claiming any territory in space, this new law essentially says that Luxembourg law will instead be applied specifically to the resources mined. Or to put it in more colloquial terms, “Finders, Keepers,” though it comes with a lot of complex further regulation required to satisfy that treaty.
The draft law also lays down the regulations for the authorization and the supervision of space resources utilization missions, including both the exploration and use of such resources. Whoever intends to undertake a space resources utilization mission will be required to obtain an authorization to do so, for each specific and determined mission. The text sets forth the necessity for a book of obligations for any mission, such as activities to be carried in or out of Luxembourg, to allow government supervision of the activities of operators and regulating their rights and obligations. The legislation is expected to enter into effect in early 2017.
This complexity will cost money unnecessarily, and also require an unnecessary bureaucracy with a great deal of power over the actions of space companies. It illustrates again how really bad the Outer Space Treaty is, and how it will oppress future spacefarers. The sooner the treaty is dumped the better. If we don’t do it here on Earth, I guarantee that the people of space will do it, as soon as they become self-sufficient enough to thumb their noses at the ground-pounders on the mother planet.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Here is a Space News commentary on this topic:
https://www.spacenewsmag.com/commentary/ordering-the-cosmos-private-law-in-the-final-frontier/
“The wealth creating potential of outer space is enormous. We cannot afford to whittle that wealth away through badly designed, top-down law.”
The author suggests that a lack of government sovereignty can work nicely. Business can work in space without Earth governments violating the Outer Space Treaty.
From the commentary: “Fortunately, we may already have an answer without realizing it. The answer is to embrace private law — property rights and dispute adjudication that arises out of contractual relationships among commercial entities, and does not rely on sovereign enforcement.”
Disputes resolved by arbitration can work nicely, he argues, because it is already common in today’s international economy, and “Leeson further estimates that 90 of these arbitration decisions are complied with voluntarily. Even if a trader loses a judgment, defecting on a previous agreement to abide by an arbitrator’s judgment will render that trader untrustworthy, making it extremely difficult to continue in business in the future.”
This suggests that government sovereignty in space may not be as necessary as we may think, in the near future, as most disputes are able to be resolved through already established methods.