President Obama Signs Space Mining Bill Into Law

Posted: Nov 27 2015, 5:55am CST | by , in News | Latest Science News

President Obama Signs Space Mining Bill into Law
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President Barack Obama has signed a space mining bill that will pave the way for the future access to asteroids for the minerals they hold in store.

Planetary Resources is a company that deals in the mining of minerals from asteroids in outer space. The CEO and staff of the company have lauded President Obama for his signing of a space mining bill.

Termed the US Commercial Space Launch Competitiveness Act, the bill will be implemented as a law pretty soon thanks to the initiative taken by the company along with the presidential approval.

The bill will allow Americans to own the rich resources available in the form of minerals in asteroids. The mining of these asteroids and the commercial exploitation of space rocks will be the order of the day thanks to this salutory bill.

It is indeed a great advancement and a milestone in the annals of property rights for all Yankees. It is almost like the word “History” is being given a second birth in our existence on earth. Like the great economies of the globe were generated several hundred years back, this too is a turning point in our existential path as a species.

Space is the final frontier. That’s for sure. But it is not just a meaningless and empty entity. It could prove to be a source of riches beyond our imagination. When humanity looks back upon our current period from the vantage point of a few centuries from now, it will find it to be the most creative and innovative of times.

It was like everything hinged on this one moment when human beings flowered on earth in the capacity of homo sapiens. The Vice President of Planetary Resources, the company, expressed his utmost regard for the President of the United States and his support which he lent the enterprise. Americans were the only nation which had a stronghold on the space initiative.

The legislative efforts will ultimately become a part of the law and then things will begin to progress very rapidly. Many members of Congress lent their votes of sympathy for the plan. The growth of the economy of the US depends upon it.

The dependence upon Middle Eastern oil and foreign mineral deposits is an unreliable deal. It would be better to choose outer space as a more stable venue for minerals and other natural resources.

The creation of jobs via booming business and the art of thinking globally while acting locally was the watchword here. Man must extend his reach beyond his means or what else was a heaven for.

“This is the single greatest recognition of property rights in history,” said Eric Anderson, Co-Founder and Co-Chairman, Planetary Resources, Inc. “This legislation establishes the same supportive framework that created the great economies of history, and will encourage the sustained development of space.”

Peter H. Diamandis, M.D., Co-Founder and Co-Chairman, Planetary Resources, Inc., said, “A hundred years from now, humanity will look at this period in time as the point in which we were able to establish a permanent foothold in space. In history, there has never been a more rapid rate progress than right now.”

Peter Marquez, Vice President of Global Engagement, Planetary Resources, Inc., said, “Our nation’s continued leadership and prosperity in space is enabled by this new law. Planetary Resources is grateful for the leadership shown by Congress in crafting this legislation and for President Obama signing H.R. 2262 into law. We applaud the members of Congress who have led this effort. Marco Rubio (R-FL), Lamar Smith (R-TX), Patty Murray (D-WA), Kevin McCarthy (R-CA), Bill Posey (R-FL) and Derek Kilmer (D-WA) have been unwavering in their support and leadership for the growth of the U.S. economy into the Solar System.”

Senator Rubio (R-FL) said, “Throughout our entire economy, we need to eliminate unnecessary regulations that cost too much and make it harder for American innovators to create jobs. The reforms included here make it easier for our innovators to return Americans to suborbital space and will help the American space industry continue pushing further into space than ever before. I’m proud the final bill includes proposals I had previously introduced in the Senate, including one related to commercial recovery of space resources. This bill is an important win for Florida’s space coast and the entire space exploration community.”

Senator Murray (D-WA) said, “I am glad that we’ve taken this important step forward to update our federal policies to make sure they work for innovative businesses creating jobs in Washington state. Washington state leads in so many ways, and I’m proud that local businesses are once again at the forefront of new industries that will help our economy continue to grow.”

Chairman Smith (R-TX) said, “The natural resources of our Solar System have great potential to facilitate and support our human endeavors, both in outer space and on Earth. Commercial space companies in the United States are making significant investments to develop technical capabilities that will allow us to explore and use outer space resources. This bill enables this new industry and provides guidance for future entrepreneurs.”

Congressman Posey (R-FL) said, “This bipartisan, bicameral legislation is a landmark for American leadership in space exploration. Recognizing basic legal protections in space will help pave the way for exciting future commercial space endeavors. Asteroids and other objects in space are excellent potential sources of rare minerals and other resources that can be used to manufacture a wide range of products here on Earth and to support future space exploration missions. Americans willing to invest in space mining operations need legal certainty that they can keep the fruits of their labor, and this bill provides that certainty.”

Congressman Kilmer (R-WA) said, “The commercial space industry in Washington state is leading the way in developing the cutting edge technology necessary to support human space exploration. The U. S. Commercial Space Launch Competitiveness Act will give these ventures the framework they need to continue to innovate, and to keep the United States at the head of this growing, global industry.”

Chris Lewicki, President and Chief Engineer, Planetary Resources, Inc., said, “This off-planet economy will forever change our lives for the better here on Earth. We celebrate this law as it creates a pro-growth environment for our emerging industry by encouraging private sector investment and ensuring an increasingly stable and predictable regulatory environment.”

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
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