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:
“Nor is any evidence to be found, either in History or Human Nature, that nations are to be bribed out of a spirit of encroachment and aggression, by humiliations which nourish their pride, or by concessions that extend their resources and power.”
—James Madison (1751–1836)
“Everywhere we are told that our human resources are all to be used, that our civilization itself means the uses of everything it has—the inventions, the histories, every scrap of fact. But there is one kind of knowledge—infinitely precious, time- resistant more than monuments, here to be passed between the generations in any way it may be: never to be used. And that is poetry.”
—Muriel Rukeyser (1913–1980)
“...wasting the energies of the race by neglecting to develop the intelligence of the members to whom its most precious resources must be entrusted, already seems a childish absurdity.”
—Anna Eugenia Morgan (1845–1909)