If oil was found inbetween America and Europe i,e middle of the Atlantic, Who would own it?

Question

If oil was found inbetween America and Europe i,e middle of the Atlantic, Who would own it?

Answer 1

nobody. whoever drilled for it would own it.

Answer 2

Whoever finds it first or drills there first would own it.

Answer 3

ME!

Answer 4

Depending on where it is, It should be open for free drilling, international waters are either owned by no one or mutually shared by the corresponding nations inside of an organization in the case that both boarder the water. (Ex: The UN would control oil in a barge between America and Europe, if it was in a designated area.)

Answer 5

If im correct, They already have lines set up if something like that happens.. So depending on were it falls in the atlantic, would decide who gets it

Answer 6

Don't know technically who would own it, but america seems to think they have more rights than other countries cause they are powerful so they would say they owned it! :)

Answer 7

they would probably split it!

Answer 8

Whoever found it probably. The country I mean. But nobody owns the ocean so yeah.

Answer 9

Any water ways 16 miles off shore of any country or countries providence is considered international property and is off limits to offshore drilling because of international treaties prohibiting drilling for oil in these regions.

Answer 10

Its in international waters so no country would own it. That doesn't mean oil companies couldn't extract oil from there. I don't think they would have to pay tax or something because it is not in anyones territories.

I don't think there are any rigs in the mid-atlantic ocean - may be its too difficult to build one so far from solid land?

Answer 11

the country with the biggest armed forces

Answer 12

the first ones to build an oil rig, that's capable of staying put and extracting the crude, and having the best navy in the world to protect it,

       rule Britannia

Answer 13

Technically the boundaries of a country are within I believe 50 miles of the coast, with varying, defined exceptions. So in this instance, I believe the first person there would get it.  

Answer 14

Who ever gets there first and stakes a legal claim. We have already seen this happening in other areas of the planet.

Answer 15

Britain is preparing territorial claims on tens of thousands of square miles of the Atlantic Ocean floor around the Falklands, Ascension Island and Rockall in the hope of annexing potentially lucrative gas, mineral and oil fields

Answer 16

Well the liberals wouldnt want American to have any piece of it so America is out of the question.

Answer 17

The first one who can drill 5 miles deep

Answer 18

open season, since that is international waters.

Answer 19

The nation is irrelevant. Shell, BP and Exxon Mobil would win

Answer 20

the big oil companies that drilled it.  

Answer 21

Well, it is in international waters so there would be a fight for it but you can bet the Americans would be all over it like fleas on a dog!

Answer 22

The Iraqis should then be allowed to attack it for strategic reasons, and also so superpowers don't get too much of a monopoly. lol.

Answer 23

the same people that own the rest ie shell and the other oil company's who take all the profits

Answer 24

There is a recent distance out into the ocean that is "owned" by the country closest to it.

However, in the middle of the Atlantic, would basically be up for grabs. Wouldn't it be too deep anyway?

Answer 25

Anything beyond 200 miles of a nation's coastline is free for the taking (200 miles is called the "Economic Exclusionary Zone").  Although there is a disputed portion of the Law of the Sea Treaty saying that nation's have economic sovereignty out to the edge of the Continental Shelf off their coast.  But since you said the middle, it would be free for the taking (if it were technically or economically feasible).

Answer 26

America, coz otherwise theyd have a tantrum and start a war

they always do

no offence, but they always get involved in wars to do with oil etc.

:)

Answer 27

If oil was found within the recognized territory of a country then they can claim it. If its in international waters meaning no country has its territorial bounderies in it then the first to claim the said oil discovery can claim it.

Answer 28

Dunno, but chances are America would start a war over it.

Answer 29

Me!

Hands off!

Answer 30

whoever found it since no one owns the ocean.

Answer 31

  cuba