The new clause also assumes a rather simpler pattern of trading for our continental shelf crude than currently occurs.
He has to consider the whole question of alternative suppliers, of the way in which the market is working, the problems of the continental shelf.
In addition, there are about 3 billion barrels of proven oil on the continental shelf whose development is pretty uncertain.
These will deal with questions connected with fisheries and the continental shelf, and seabed jurisdiction.
This is a practical arrangement, allocating the right to countries of exploration and extraction of substances from the continental shelf.
The integrity of safety zones around installations on the continental shelf is kept under review by the authorities concerned.
The continental shelf makes no contribution to the gross domestic product of manufacturing industries.
Added to which is the lack of a continental shelf, meaning that fishing essentially takes place on what are referred to as ‘submarine hills’.
