But you be the judge. Here's what the Portuguese government is punting internationally ...
As resource scarcity increases in continental areas and prospective and extractive technologies progress, the exploitation of mineral, energy (including methane hydrates) and genetic resources in the deep seabed is becoming increasingly feasible. Many of these resources are found on the continental shelves and their extension areas, making these areas of soil and subsoil new sources of wealth for coastal States.
The scientific exploration of the national seabed remains limited and poorly characterised. However, the data and knowledge gained over the years through scientific research campaigns and cruises dedicated to the purposes of the CSEP have allowed the vast potential of the different resources found on the continental shelf of Portugal to be identified.
With the CSEP, the reasons to consolidate existing data and evaluate new mineral resources only multiply. It is undeniable that mining is a risky undertaking and that a lack of knowledge of existing resources and strong international competition are constraints. Even so, the challenge and the opportunity cannot be ignored: concrete measures, relatively low in cost and simple to apply, would allow exploration projects and possible exploration to be pursued in the short term.
The "Illusion" being sold to the Portuguese nation
The Continental Shelf Extension Project (CSEP) gives Portugal sovereignty over the soil and subsoil in the area beyond 200 nautical miles. The benefits arising from the Continental Shelf Extension Project shall be felt to their maximum extent by future generations. The exploitation of mineral resources, one of the cornerstones of developing any society, and this new sovereignty over more territory, will provide new opportunities for accessing natural resources with high economic potential. Apart from these, the CSEP was and still is an opportunity to:
- Increase the international influence of Portugal – better know-how and greater visibility with the demonstration of knowledge and scientific and technological capacity in the broad field of marine sciences;
- Unequivocally strengthen the position of Portugal in matters relating to the sea and oceans;
- Acquire and develop new equipment and new technologies, increasing operational capacity for accessing the deep sea;
- Invest in innovative R&D initiatives;
- Contribute to scientific development, particularly in areas such as hydrography, geology, geophysics, oceanography, biology, robotics and international law, supporting research projects and establishing partnerships with laboratories, institutes and universities at national and international level;
In short, the CSEP will allow Portugal to increasingly position itself as a major European maritime nation, and will constitute at the same time a legacy for future generations, who will be able to enjoy and sustainably exploit this vast maritime domain, creating more wealth and providing a better quality of life for the Portuguese.
If you believe that this "Illusion" will bring real and tangible benefits to Portugal ... you'll also believe that the Earth is flat ...
Find more information here: http://www.emepc.pt/en/marine-resources