The United States Submerged Lands Act
“Who is the default owner of petroleum deposits three nautical miles off the coast of U.S States?”
It’s a big question who owns petroleum deposits by default near the coastline in the U.S. After much deliberation, in 1953 the United States Federal Congress passed The United States Submerged Lands Act. This law stipulates that any minerals or deposits found within three nautical miles (5.556 kilometers) of the waters of a U.S State belong to the aforementioned State government. An exception is made for Texas and Florida, who have a right within three nautical leagues (16.668 kilometers).