By VERA Files
(Last of two parts)
A month before the May 13, 2009 deadline, the
Philippine government intends to submit a claim before the
United Nations over its extended continental shelf, which
scientists and legal experts say include the resource-rich
Kalayaan Island Group (KIG) and other disputed territories.
If the UN upholds this claim, the Philippines
would have the exclusive right to exploit the KIG's vast natural
resources, including an estimated 200 billion barrels of oil.
The KIG is part of the disputed Spratly Islands in the South
China Sea which are being claimed wholly or in part by China,
Taiwan, Vietnam, Malaysia and Brunei.
The huge amounts of oil, natural gas,
minerals and polymetals, such as gold, silver, iron and nickel,
off the seas of the KIG could "greatly contribute to the growth
of the economy and uplift the socio-economic condition of the
Philippines," said the University of the Philippines Institute
of International Legal Studies (UP-IILS).