Resources
It is an extremely significant body of water in a geopolitical sense. It is the second most used sea lane in the world, while in terms of world annual merchant fleet tonnage, over 50% passes through the Strait of Malacca, the Sunda Strait, and the Lombok Strait. Over 1.6 million m³ (10 million barrels) of crude oil a day are shipped through the Strait of Malacca, where there are regular reports of piracy, but much less frequently than before the mid-20th century.
The region has proven oil reserves of around 1.2 km³ (7.7 billion barrels), with an estimate of 4.5 km³ (28 billion barrels) in total. Natural gas reserves are estimated to total around 7,500 km³ (266 trillion cubic feet).
According to studies made by the Department of Environment and Natural Resources, Philippines, this body of water holds one third of the entire world's marine biodiversity, thereby making it a very important area for the ecosystem. However the fish stocks in the area are depleted, and countries are using fishing bans as a means of asserting their sovereignty claims.
Read more about this topic: South China Sea
Famous quotes containing the word resources:
“The great object of Education should be commensurate with the object of life. It should be a moral one; to teach self-trust: to inspire the youthful man with an interest in himself; with a curiosity touching his own nature; to acquaint him with the resources of his mind, and to teach him that there is all his strength, and to inflame him with a piety towards the Grand Mind in which he lives. Thus would education conspire with the Divine Providence.”
—Ralph Waldo Emerson (1803–1882)
“The old, subjective, stagnant, indolent and wretched life for woman has gone. She has as many resources as men, as many activities beckon her on. As large possibilities swell and inspire her heart.”
—Anna Julia Cooper (1859–1964)
“How many inner resources one needs to tolerate a life of leisure without fatigue”
—Natalie Clifford Barney (1876–1972)