Hello:
Much ado has been made lately about the Black Gold (crude petroleum reserves)
in the Chilly Arctic. Move over Polar Bears, those of you that are left, the
drill rigs are coming!
According to the 1982 United Nations Convention on the Law of the Sea (UNCLOS),
countries have the right to drill up to 200 miles offshore, or, with approval
from the UN, up to the edge of their continental shelf. Russia and Norway
have made requests for approval to the edge of the continental shelf. Already
Russia has planted a flag on the sea floor under the North Pole.
Canada has until 2013 to request approval to the edge of their continental
shelf, and Denmark has until 2014. The U.S. has yet to ratify UNCLOS.
So, our future gasoline may come from the under chilly north pole instead
of from under the hot desert sands of the Mid-East.
Is your company or organization looking to start or
to update their retirement plan? Let us know. Perhaps we can suggest some
insightful solutions to your company's situation.
Terri
G. Millson, CIMA, CIMC
President |
Ray
Dicius, CSA, GEPC
LPL Branch Manager |
06/02/2008