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International waters are not owned by any country, but are shared by all. : The Indicator from Planet Money The high seas — water 200 nautical miles from shore — are an ocean of possibility for industries looking to cash in. But without proper oversight, the problems could be as deep as the ocean itself.

Could an international agreement help?

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The Indicator from Planet Money

The wide open possibility of the high seas

By 

Paddy Hirsch

, 

The wide open possibility of the high seas

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The Total Culzean platform is pictured on the North Sea, about 45 miles (70 kilometres) east of the Aberdeen, Europe's self-proclaimed oil capital on Scotland's northeast coast, on April 8, 2019.
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ANDY BUCHANAN/AFP via Getty Images
The Total Culzean platform is pictured on the North Sea, about 45 miles (70 kilometres) east of the Aberdeen, Europe&#039;s self-proclaimed oil capital on Scotland&#039;s northeast coast, on April 8, 2019.
ANDY BUCHANAN/AFP via Getty Images

What is owned by nobody but everybody shares? The high seas!

These international waters 200 nautical miles from shore are part of the global commons. That means everyone on Earth owns them. But it also means no country is responsible for oversight or maintaining them.

After 15 years of negotiation, an international agreement is in place on how to balance the needs of the ecosystem with the interests of industry — who see the high seas as an ocean of economic opportunity.

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For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.