For example, for the first time since the UN was founded, a multilateral agency, the International Seabed Authority (ISA), would have the power to raise revenues from U.S. taxpayers if American companies wish to exploit the seabeds' resources.
As part of the deal, as much as 7% of U.S. government revenue collected from oil and gas companies operating off our coast will be forked over to ISA for redistribution to poorer, landlocked countries.