Leonard David's INSIDE OUTER SPACE

Asteroids are seen as celestial paydirt!
Credit: Texas A&M

It is titled the American Space Technology for Exploring Resource Opportunities in Deep Space (ASTEROIDS) Act of 2014.

U.S. Representatives Bill Posey (R-FL) and Derek Kilmer (D-WA) have introduced bipartisan legislation “to expand opportunities and protections for private space companies looking to explore space.”

“Asteroids are excellent potential sources of highly valuable resources and minerals,” said lawmaker Posey, a Member of the House Science, Space and Technology Committee.

“Our knowledge of asteroids – their number, location, and composition – has been increasing at a tremendous rate and space technology has advanced to the point where the private sector is now able to begin planning such expeditions. Our legislation will help promote private exploration and protect commercial rights as these endeavors move forward,” Posey said in a July 10 statement.

Critical rare metals

According to Kilmer, a member of the House Science, Space and Technology Committee:

 “We may be many years away from successfully mining an asteroid, but the research to turn this from science fiction into reality is being done today,” Kilmer said. “That’s why I’m excited to introduce this bill with Representative Posey so we can help the United States access new supplies of critical rare metals while serving as a launch pad for a growing industry.”

 Posey and Kilmer’s bill would:

— Clarify that resources mined from an asteroid are the property of the entity that obtained them;

— Ensure U.S. companies can conduct their operation without harmful interference;

— Direct the President to facilitate commercial development of asteroid resources.

A special tip of the space helmet visor goes to Marcia Smith and her informative SpacePolicyOnline News for flagging the introduction of the bill, along with her comments on the bill, here:

http://www.spacepolicyonline.com/news/posey-kilmer-introduce-asteroids-act-to-grant-property-rights-to-asteroid-resources?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Spacepolicyonline+%28SpacePolicyOnline+News%29

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