Asteroid Futures

Abstract

This chapter evaluates the emerging industry of asteroid mining and the pivotal role of the United States in shaping the new rules for an extra-terrestrial economy. The Outer Space Treaty 1967 (OST) governs the use of space, with over 100 signatories, including the United States and China. However, as space exploration expands to encompass both public and private stakeholders, there is a growing international debate about whether the OST's provisions prohibit the assertion of sovereignty and, hence, property rights, in outer space. With the Commercial Space Launch Competitiveness Act (2015), the United States has pursued a legal framework that facilitates commercial asteroid mining and a political strategy that focuses on bilateral space exploration agreements with countries such as Luxembourg, Italy, and the United Arab Emirates. Due to its dominant position in the space sector, the United States will strongly influence the regulatory roadmap for the era of Space 2.0.