Putting things into perspective: Some comments on the US Space Resource and Utilization Act of 2015

On November 25, President Obama signed into law the Space Resource and Utilization Act of 2015. The Act recognizes property rights of US citizens on asteroid resources they have extracted. The Act has been received by both enthusiasm and scepticism regarding its effect on international space law. However, a brief analysis of the situation from a technological, legal and US-domestic perspective reveals that importance of the Act lies mainly in the domestic US politics and economy.    

On the legality of commercial asteroid mining and the purposefulness of related domestic legislation

It was reported recently that two US Senators introduced a bill to establish and protect property rights on asteroid resources. Leaving aside that this bill is unlikely to become a law, following the fate of similar legislative efforts in the past, and that even if it becomes a law it will not be technologically possible to implement it in the new future, it is worth examining whether such piece of legislation would conform to international space law.

The following thoughts are without prejudice to possible inadequacies of the current legal regime and the need of reform to encourage technological and economic developments in the space sector.