UN General Assembly
1975

133. The reach of international law must extend to the last frontiers of our planet, the oceans. They are the common heritage of mankind, but they can turn into arenas of conflict unless governed by law. They hold untapped sources of energy, minerals and proteins; their environmental integrity is crucial to our survival. 134. The United States welcomes the United Nations mandate for a comprehensive treaty governing the use of the oceans and their resources. Last month at Montreal I set forth our approach to this negotiation and urged that next year's session of the Third United Nations Conference on the Law of the Sea move matters to a rapid and successful conclusion. No international negotiation is more vital for long-term political and economic stability and the prosperity of our globe.